UiPath (NYSE:PATH) Trading Down 3.2% – Here’s What Happened

UiPath, Inc. (NYSE:PATH) shares traded down 3.2% on Friday . The company traded as low as $14.31 and last traded at $14.32. 35,692,147 shares changed hands during trading, an increase of 22% from the average session volume of 29,290,596 shares. The stock had previously closed at $14.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PATH shares. Cowen reissued a “hold” rating on shares of UiPath in a report on Thursday, December 4th. Weiss Ratings reissued a “hold (c)” rating on shares of UiPath in a research note on Monday, December 29th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday, December 4th. Canaccord Genuity Group increased their price objective on shares of UiPath from $15.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Finally, Evercore ISI boosted their target price on shares of UiPath from $15.00 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, UiPath currently has an average rating of “Hold” and an average price target of $16.00.

UiPath Stock Down 3.2%

The business’s fifty day moving average is $15.73 and its two-hundred day moving average is $13.91. The stock has a market capitalization of $7.66 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 4.20 and a beta of 1.08.

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. UiPath had a net margin of 14.79% and a return on equity of 3.73%. The company had revenue of $411.11 million for the quarter, compared to the consensus estimate of $392.46 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. UiPath’s revenue was up 15.9% on a year-over-year basis. Sell-side analysts expect that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other UiPath news, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction on Monday, December 8th. The shares were sold at an average price of $19.21, for a total transaction of $864,450.00. Following the completion of the transaction, the chief executive officer directly owned 29,153,585 shares of the company’s stock, valued at $560,040,367.85. The trade was a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ashim Gupta sold 67,468 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 557,028 shares in the company, valued at approximately $8,968,150.80. This represents a 10.80% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,235,048 shares of company stock valued at $20,467,544. 23.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UiPath

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of UiPath by 4.9% during the third quarter. Vanguard Group Inc. now owns 47,895,884 shares of the company’s stock valued at $640,847,000 after buying an additional 2,251,434 shares during the period. TFG Asset Management GP Ltd lifted its stake in shares of UiPath by 53.3% during the 2nd quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock worth $175,645,000 after acquiring an additional 4,772,244 shares during the last quarter. AQR Capital Management LLC boosted its holdings in UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock valued at $145,732,000 after acquiring an additional 4,926,341 shares during the period. Federated Hermes Inc. grew its position in UiPath by 40.7% in the 2nd quarter. Federated Hermes Inc. now owns 8,048,321 shares of the company’s stock valued at $103,019,000 after acquiring an additional 2,328,225 shares during the last quarter. Finally, State Street Corp increased its stake in UiPath by 5.0% in the second quarter. State Street Corp now owns 8,032,345 shares of the company’s stock worth $102,814,000 after purchasing an additional 378,851 shares during the period. 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. 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.