UiPath (NYSE:PATH) Stock Price Down 3.5% – Here’s Why

UiPath, Inc. (NYSE:PATH) shares were down 3.5% during trading on Tuesday . The company traded as low as $10.63 and last traded at $10.92. Approximately 37,510,391 shares changed hands during trading, an increase of 29% from the average daily volume of 29,063,504 shares. The stock had previously closed at $11.32.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays lifted their price objective on shares of UiPath from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UiPath in a report on Monday, December 29th. BMO Capital Markets boosted their price objective on UiPath from $13.00 to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, December 4th. Morgan Stanley raised their target price on UiPath from $15.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 9th. Finally, UBS Group reiterated a “neutral” rating on shares of UiPath in a research report on Thursday, December 4th. One analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.77.

UiPath Stock Performance

The firm has a market capitalization of $5.84 billion, a P/E ratio of 94.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.07. The firm has a 50 day moving average price of $15.14 and a two-hundred day moving average price of $14.00.

UiPath (NYSE:PATH) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $411.11 million for the quarter, compared to analyst estimates of $392.46 million. UiPath had a net margin of 14.79% and a return on equity of 3.73%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. Equities research analysts forecast that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 67,468 shares of UiPath stock in a transaction on Monday, January 5th. The stock was sold at an average price of $16.10, for a total transaction of $1,086,234.80. Following the completion of the sale, the chief financial officer owned 557,028 shares of the company’s stock, valued at approximately $8,968,150.80. This trade represents a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $15.01, for a total value of $675,450.00. Following the completion of the transaction, the chief executive officer directly owned 27,893,585 shares in the company, valued at approximately $418,682,710.85. The trade was a 0.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 950,048 shares of company stock valued at $15,881,744 in the last three months. Company insiders own 23.19% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently added to or reduced their stakes in PATH. D.A. Davidson & CO. grew its position in UiPath by 23.8% in the third quarter. D.A. Davidson & CO. now owns 752,448 shares of the company’s stock worth $10,068,000 after acquiring an additional 144,832 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new position in shares of UiPath during the 3rd quarter valued at $1,579,000. AlphaQuest LLC lifted its stake in shares of UiPath by 863.9% in the 2nd quarter. AlphaQuest LLC now owns 42,847 shares of the company’s stock valued at $548,000 after purchasing an additional 38,402 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in UiPath by 7.3% in the second quarter. Russell Investments Group Ltd. now owns 1,445,644 shares of the company’s stock worth $18,448,000 after purchasing an additional 98,058 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its position in UiPath by 115.3% during the third quarter. Campbell & CO Investment Adviser LLC now owns 141,752 shares of the company’s stock worth $1,897,000 after buying an additional 75,927 shares during the last quarter. Institutional investors and hedge funds 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, 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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.