UiPath (NYSE:PATH) Trading Up 0.7%

UiPath Inc. (NYSE:PATH)’s share price was up 0.7% during trading on Thursday . The company traded as high as $19.29 and last traded at $19.25. Approximately 1,302,453 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 8,911,960 shares. The stock had previously closed at $19.12.

Analyst Ratings Changes

A number of equities analysts have recently commented on PATH shares. William Blair started coverage on UiPath in a report on Tuesday, January 2nd. They issued an “outperform” rating for the company. Scotiabank raised their price target on UiPath from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 14th. DA Davidson raised their price target on UiPath from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. KeyCorp assumed coverage on UiPath in a research note on Monday, April 8th. They set an “overweight” rating and a $27.00 price target for the company. Finally, Truist Financial reissued a “buy” rating and set a $32.00 price target on shares of UiPath in a research note on Wednesday, March 20th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.41.

UiPath Trading Down 0.1 %

The stock has a 50-day simple moving average of $23.07 and a two-hundred day simple moving average of $21.46. The firm has a market capitalization of $10.87 billion, a P/E ratio of -113.23 and a beta of 0.96.

UiPath (NYSE:PATH) last issued its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. The business had revenue of $405.25 million during the quarter, compared to analyst estimates of $383.32 million. As a group, research analysts expect that UiPath Inc. will post -0.04 EPS for the current year.

Insider Activity

In other news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction on Monday, February 5th. The stock was sold at an average price of $22.47, for a total value of $359,520.00. Following the transaction, the chief financial officer now directly owns 103,505 shares in the company, valued at approximately $2,325,757.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 72,000 shares of company stock worth $1,591,360. 31.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its stake in UiPath by 3.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company’s stock worth $885,000 after buying an additional 1,506 shares during the last quarter. MetLife Investment Management LLC purchased a new position in UiPath during the 1st quarter worth $184,000. BlackRock Inc. grew its stake in UiPath by 1.9% during the 1st quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company’s stock worth $114,786,000 after buying an additional 99,242 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in UiPath during the 1st quarter worth $534,000. Finally, Canada Pension Plan Investment Board purchased a new position in UiPath during the 1st quarter worth $259,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.