UiPath (NYSE:PATH) Stock Dropped to “Strong Sell” by DA Davidson

DA Davidson cut shares of UiPath (NYSE:PATH) from a hold rating to a strong sell rating in a research note issued to investors on Monday, Marketbeat reports. The firm currently has $10.00 price target on the stock.

Other research analysts have also issued reports about the company. New Street Research set a $15.00 price target on UiPath in a research report on Thursday. Citigroup began coverage on UiPath in a research note on Tuesday, September 8th. They set a “buy” rating and a $23.00 target price on the stock. BMO Capital Markets lowered their target price on UiPath from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Thursday, September 24th. Weiss Ratings upgraded UiPath from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 9th. Finally, HC Wainwright reiterated a “buy” rating on shares of UiPath in a research note on Friday, September 4th. Four equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.69.

UiPath Trading Down 1.9%

Shares of PATH opened at $12.23 on Monday. UiPath has a 12-month low of $9.20 and a 12-month high of $19.84. The firm has a 50-day moving average price of $14.53 and a 200 day moving average price of $12.24. The firm has a market capitalization of $6.37 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.17 and a beta of 1.02.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, September 3rd. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. UiPath had a net margin of 21.03% and a return on equity of 9.70%. The company had revenue of $410.26 million for the quarter, compared to the consensus estimate of $397.77 million. During the same period in the previous year, the firm earned $0.15 earnings per share. UiPath’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that UiPath will post 0.49 earnings per share for the current fiscal year.

Insider Activity

In other UiPath news, insider Raghavendra Malpani sold 40,464 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $14.00, for a total transaction of $566,496.00. Following the completion of the sale, the insider directly owned 1,582,213 shares of the company’s stock, valued at $22,150,982. This represents a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Dines sold 1,402,347 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $16.07, for a total transaction of $22,535,716.29. Following the completion of the transaction, the chief executive officer owned 26,491,238 shares of the company’s stock, valued at $425,714,194.66. This represents a 5.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,560,150 shares of company stock valued at $24,727,357 in the last ninety days. 22.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PATH. Trifecta Capital Advisors LLC acquired a new stake in UiPath in the 2nd quarter valued at about $27,000. AdvisorNet Financial Inc lifted its holdings in shares of UiPath by 750.0% in the first quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company’s stock valued at $38,000 after purchasing an additional 3,000 shares in the last quarter. REAP Financial Group LLC acquired a new stake in shares of UiPath in the fourth quarter valued at approximately $44,000. Global Retirement Partners LLC acquired a new stake in shares of UiPath in the second quarter valued at approximately $57,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of UiPath by 36.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,968 shares of the company’s stock worth $81,000 after purchasing an additional 1,329 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Company Profile

UiPath Inc (NYSE: PATH) develops enterprise automation software designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation (RPA), artificial intelligence, workflow orchestration and process intelligence to support automation across areas such as finance, customer service, human resources, information technology and operations.

The UiPath Platform includes tools for discovering and analyzing business processes, building and managing software robots, processing documents, testing applications and coordinating automated workflows.