UiPath (NYSE:PATH) Shares Down 0.5%

UiPath Inc. (NYSE:PATH) shares traded down 0.5% on Friday . The company traded as low as $22.59 and last traded at $22.67. 5,456,008 shares traded hands during trading, a decline of 48% from the average session volume of 10,462,276 shares. The stock had previously closed at $22.78.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Mizuho raised their price target on shares of UiPath from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. DA Davidson lifted their price objective on shares of UiPath from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Morgan Stanley lifted their price objective on shares of UiPath from $17.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. BMO Capital Markets lifted their price objective on shares of UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, March 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of UiPath in a research report on Wednesday, March 20th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.44.

UiPath Trading Down 0.5 %

The firm has a market cap of $12.83 billion, a P/E ratio of -133.35 and a beta of 0.97. The stock’s fifty day moving average is $23.65 and its two-hundred day moving average is $21.04.

Insider Activity at UiPath

In related news, Director Rich Wong sold 200,000 shares of UiPath stock in a transaction on Monday, January 8th. The stock was sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the completion of the sale, the director now owns 429,418 shares of the company’s stock, valued at $9,928,144.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Rich Wong sold 200,000 shares of UiPath stock in a transaction on Monday, January 8th. The stock was sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the completion of the sale, the director now owns 429,418 shares of the company’s stock, valued at $9,928,144.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashim Gupta sold 125,000 shares of UiPath stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $22.59, for a total value of $2,823,750.00. Following the sale, the chief financial officer now directly owns 858,148 shares of the company’s stock, valued at approximately $19,385,563.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 427,000 shares of company stock valued at $9,784,110. Company insiders own 31.03% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of large investors have recently added to or reduced their stakes in PATH. Norges Bank purchased a new stake in UiPath during the fourth quarter valued at about $165,749,000. BlackRock Inc. increased its holdings in shares of UiPath by 32.1% in the second quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock worth $387,354,000 after buying an additional 5,681,577 shares during the period. Altimeter Capital Management LP increased its holdings in shares of UiPath by 175.4% in the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock worth $71,579,000 after buying an additional 5,270,194 shares during the period. Millennium Management LLC increased its holdings in shares of UiPath by 899.5% in the fourth quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company’s stock worth $51,475,000 after buying an additional 3,644,799 shares during the period. Finally, State Street Corp increased its holdings in shares of UiPath by 251.1% in the second quarter. State Street Corp now owns 4,996,369 shares of the healthcare company’s stock worth $90,884,000 after buying an additional 3,573,238 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About UiPath

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.