UiPath (NYSE:PATH) Trading Down 9.8% – Here’s What Happened
by Teresa Graham · The Cerbat GemUiPath, Inc. (NYSE:PATH – Get Free Report)’s share price dropped 9.8% during mid-day trading on Wednesday . The stock traded as low as $11.49 and last traded at $11.6750. Approximately 43,018,247 shares traded hands during trading, an increase of 49% from the average daily volume of 28,870,557 shares. The stock had previously closed at $12.95.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on PATH. Wall Street Zen downgraded shares of UiPath from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 8th. Royal Bank Of Canada set a $14.00 price target on UiPath in a research report on Wednesday. Canaccord Genuity Group upped their price objective on UiPath from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. BMO Capital Markets increased their price objective on UiPath from $13.00 to $17.00 and gave the company a “market perform” rating in a research report on Thursday, December 4th. Finally, Barclays raised their price objective on UiPath from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.77.
Read Our Latest Stock Report on PATH
UiPath Stock Up 1.5%
The company has a market capitalization of $6.07 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 1.57 and a beta of 1.07. The stock’s fifty day moving average price is $15.44 and its two-hundred day moving average price is $13.98.
UiPath (NYSE:PATH – Get Free Report) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. UiPath had a return on equity of 3.73% and a net margin of 14.79%.The business had revenue of $411.11 million during the quarter, compared to analyst estimates of $392.46 million. During the same quarter in the prior year, the company posted $0.11 EPS. UiPath’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that UiPath, Inc. will post -0.17 EPS for the current year.
Insider Buying and Selling at UiPath
In other news, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $19.21, for a total value of $864,450.00. Following the completion of the sale, the chief executive officer directly owned 29,153,585 shares of the company’s stock, valued at approximately $560,040,367.85. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 67,468 shares of UiPath stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $16.10, for a total transaction of $1,086,234.80. Following the sale, the chief financial officer directly owned 557,028 shares in the company, valued at $8,968,150.80. The trade was a 10.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 950,048 shares of company stock valued at $15,881,744 over the last 90 days. Company insiders own 23.19% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in PATH. Kestra Advisory Services LLC purchased a new position in shares of UiPath in the 4th quarter valued at approximately $238,000. The Manufacturers Life Insurance Company grew its stake in UiPath by 247.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 320,679 shares of the company’s stock worth $5,260,000 after purchasing an additional 228,398 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in UiPath by 2.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,107,481 shares of the company’s stock worth $34,500,000 after purchasing an additional 56,711 shares during the period. Stifel Financial Corp raised its holdings in UiPath by 34.4% in the fourth quarter. Stifel Financial Corp now owns 584,568 shares of the company’s stock worth $9,581,000 after purchasing an additional 149,663 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new position in UiPath during the fourth quarter valued at $7,343,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.
UiPath Company Profile
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.