UiPath (NYSE:PATH) Trading Down 0.5% – Here’s Why

UiPath Inc. (NYSE:PATH)’s share price was down 0.5% on Friday . The company traded as low as $12.81 and last traded at $12.86. Approximately 1,571,475 shares changed hands during trading, a decline of 55% from the average daily volume of 3,511,043 shares. The stock had previously closed at $12.93.

Wall Street Analyst Weigh In

PATH has been the topic of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday, December 19th. Wells Fargo & Company cut their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. UBS Group assumed coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. One equities 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.50.

UiPath Stock Performance

The firm has a fifty day simple moving average of $13.46 and a 200 day simple moving average of $12.69. The company has a market cap of $7.19 billion, a PE ratio of -81.81 and a beta of 0.96.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its holdings in shares of UiPath by 5.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 107,468 shares of the company’s stock worth $1,363,000 after buying an additional 5,742 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of UiPath by 266.5% in the 2nd quarter. Van ECK Associates Corp now owns 44,510 shares of the company’s stock worth $564,000 after purchasing an additional 32,365 shares during the period. CIBC Asset Management Inc lifted its stake in shares of UiPath by 30.6% in the 2nd quarter. CIBC Asset Management Inc now owns 13,564 shares of the company’s stock valued at $172,000 after purchasing an additional 3,177 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of UiPath by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 511,011 shares of the company’s stock worth $6,480,000 after purchasing an additional 12,836 shares during the period. Finally, TD Asset Management Inc increased its position in UiPath by 11.8% during the 2nd quarter. TD Asset Management Inc now owns 32,200 shares of the company’s stock worth $408,000 after purchasing an additional 3,400 shares in the last quarter. Institutional investors and hedge funds 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.