UiPath (NYSE:PATH) Shares Down 0.1% – Time to Sell?

UiPath Inc. (NYSE:PATH) shares dropped 0.1% during mid-day trading on Wednesday . The company traded as low as $12.92 and last traded at $13.19. Approximately 2,691,865 shares were traded during trading, a decline of 68% from the average daily volume of 8,342,358 shares. The stock had previously closed at $13.20.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Wells Fargo & Company lowered their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Barclays cut their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Thursday, December 19th. Finally, Morgan Stanley boosted their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, UiPath has a consensus rating of “Hold” and a consensus price target of $17.44.

UiPath Stock Down 3.4 %

The stock has a fifty day moving average price of $13.56 and a 200-day moving average price of $12.76. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of -81.06 and a beta of 0.96.

Insider Activity

In other news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new position in shares of UiPath during the third quarter worth about $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of UiPath during the 3rd quarter worth $26,000. Quarry LP lifted its position in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after acquiring an additional 2,729 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in UiPath during the second quarter valued at $43,000. Finally, Allspring Global Investments Holdings LLC increased its stake in UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after buying an additional 2,274 shares during the period. 62.50% of the stock is 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, 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.