UiPath (NYSE:PATH) Shares Down 34.1% After Analyst Downgrade

Shares of UiPath Inc. (NYSE:PATHGet Free Report) were down 34.1% during trading on Thursday after Barclays lowered their price target on the stock from $25.00 to $16.00. Barclays currently has an equal weight rating on the stock. UiPath traded as low as $11.81 and last traded at $12.06. Approximately 39,985,258 shares traded hands during mid-day trading, an increase of 371% from the average daily volume of 8,488,042 shares. The stock had previously closed at $18.30.

Several other research firms also recently commented on PATH. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Thursday. Bank of America reiterated a “neutral” rating and issued a $16.00 price objective (down from $30.00) on shares of UiPath in a report on Thursday. JPMorgan Chase & Co. cut their price objective on UiPath from $28.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday. Evercore ISI lowered their target price on shares of UiPath from $27.00 to $13.00 and set an “in-line” rating for the company in a research note on Thursday. Finally, KeyCorp reissued a “sector weight” rating on shares of UiPath in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, UiPath presently has an average rating of “Hold” and a consensus price target of $20.24.

Get Our Latest Stock Report on UiPath

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 16,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.84, for a total transaction of $365,440.00. Following the completion of the transaction, the chief financial officer now directly owns 87,505 shares of the company’s stock, valued at approximately $1,998,614.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 96,000 shares of company stock worth $2,023,440 over the last 90 days. 22.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC raised its holdings in shares of UiPath by 93.5% in the first quarter. Cetera Advisors LLC now owns 19,706 shares of the healthcare company’s stock valued at $447,000 after buying an additional 9,522 shares during the last quarter. Cetera Investment Advisers increased its stake in UiPath by 315.6% in the 1st quarter. Cetera Investment Advisers now owns 67,782 shares of the healthcare company’s stock valued at $1,537,000 after purchasing an additional 51,472 shares in the last quarter. Strategic Wealth Partners Ltd. purchased a new position in shares of UiPath in the first quarter valued at $641,000. Plato Investment Management Ltd increased its holdings in UiPath by 1,271.0% during the 1st quarter. Plato Investment Management Ltd now owns 39,978 shares of the healthcare company’s stock valued at $906,000 after acquiring an additional 37,062 shares in the last quarter. Finally, Comerica Bank increased its stake in shares of UiPath by 226.5% during the 1st quarter. Comerica Bank now owns 25,154 shares of the healthcare company’s stock worth $570,000 after purchasing an additional 17,451 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Price Performance

The firm has a 50-day simple moving average of $20.13 and a two-hundred day simple moving average of $22.06. The company has a market cap of $6.87 billion, a PE ratio of -71.00 and a beta of 1.01.

UiPath (NYSE:PATHGet Free Report) last issued its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. The company had revenue of $405.25 million for the quarter, compared to analyst estimates of $383.32 million. Equities research analysts forecast that UiPath Inc. will post -0.04 EPS for the current year.

UiPath Company Profile

(Get Free Report)

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.

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