UiPath (NYSE:PATH) Stock Price Up 3.7%

UiPath Inc. (NYSE:PATH) shares traded up 3.7% during mid-day trading on Tuesday . The company traded as high as $19.61 and last traded at $19.58. 1,739,844 shares were traded during trading, a decline of 80% from the average session volume of 8,776,809 shares. The stock had previously closed at $18.89.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Mizuho boosted their price objective on UiPath from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Wells Fargo & Company boosted their price objective on UiPath from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Morgan Stanley boosted their price objective on UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. upgraded UiPath from a “neutral” rating to an “overweight” rating and upped their price target for the company from $22.00 to $28.00 in a research report on Thursday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of UiPath in a research report on Wednesday, March 20th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.41.

UiPath Stock Up 0.7 %

The firm has a 50 day simple moving average of $22.42 and a two-hundred day simple moving average of $21.55.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $405.25 million during the quarter, compared to the consensus estimate of $383.32 million. Equities research analysts expect that UiPath Inc. will post -0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.84, for a total value of $365,440.00. Following the completion of the sale, the chief financial officer now directly owns 87,505 shares in the company, valued at $1,998,614.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 72,000 shares of company stock worth $1,591,360 over the last ninety days. 31.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC bought a new position in shares of UiPath during the fourth quarter worth about $25,000. HighMark Wealth Management LLC bought a new position in UiPath in the fourth quarter valued at approximately $27,000. Cypress Capital Management LLC WY bought a new position in UiPath in the fourth quarter valued at approximately $29,000. Fifth Third Bancorp grew its stake in UiPath by 2,005.3% in the third quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after purchasing an additional 1,905 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in UiPath in the fourth quarter valued at approximately $36,000. 62.50% of the stock is currently owned by 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, 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.