UiPath (NYSE:PATH) Shares Gap Down After Analyst Downgrade

UiPath Inc. (NYSE:PATH)’s share price gapped down prior to trading on Thursday after Morgan Stanley lowered their price target on the stock from $16.00 to $12.00. The stock had previously closed at $11.83, but opened at $9.80. Morgan Stanley currently has an equal weight rating on the stock. UiPath shares last traded at $10.07, with a volume of 9,905,625 shares changing hands.

A number of other brokerages have also commented on PATH. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research report on Friday, December 6th. Barclays cut their price objective on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. BMO Capital Markets boosted their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, UBS Group began coverage on shares of UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.78.

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in UiPath by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock valued at $593,101,000 after buying an additional 576,458 shares during the last quarter. Senvest Management LLC raised its holdings in UiPath by 29.2% during the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock worth $178,890,000 after purchasing an additional 3,180,300 shares during the last quarter. Geode Capital Management LLC raised its holdings in UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after purchasing an additional 493,502 shares during the last quarter. AQR Capital Management LLC raised its holdings in UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock worth $84,209,000 after purchasing an additional 2,072,089 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of UiPath during the 4th quarter worth approximately $71,191,000. Institutional investors own 62.50% of the company’s stock.

UiPath Trading Down 13.4 %

The company has a market cap of $5.63 billion, a price-to-earnings ratio of -63.69 and a beta of 1.00. The firm’s 50-day moving average price is $13.47 and its 200 day moving average price is $13.18.

UiPath Company Profile

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.