UiPath Inc. (NYSE:PATH – Get Rating)’s share price reached a new 52-week low during trading on Thursday following insider selling activity. The company traded as low as $10.79 and last traded at $10.86, with a volume of 28226 shares trading hands. The stock had previously closed at $11.16.Specifically, CFO Ashim Gupta sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $20.70, for a total value of $2,070,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,387,266 shares in the company, valued at $28,716,406.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Ashim Gupta sold 100,000 shares of UiPath stock in a transaction on Monday, August 15th. The stock was sold at an average price of $20.70, for a total transaction of $2,070,000.00. Following the transaction, the chief financial officer now owns 1,387,266 shares in the company, valued at approximately $28,716,406.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Hitesh Ramani sold 2,100 shares of the company’s stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $12.10, for a total transaction of $25,410.00. Following the completion of the sale, the chief accounting officer now directly owns 395,717 shares of the company’s stock, valued at approximately $4,788,175.70. The disclosure for this sale can be found here. Insiders have sold 191,200 shares of company stock valued at $3,483,069 in the last ninety days. 31.88% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. BMO Capital Markets decreased their price objective on UiPath from $21.00 to $15.00 in a report on Wednesday, September 7th. Royal Bank of Canada lowered their price target on UiPath from $22.00 to $18.00 in a report on Wednesday, September 7th. Morgan Stanley lowered shares of UiPath from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $32.00 to $15.00 in a report on Wednesday, September 7th. Mizuho lowered shares of UiPath from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $14.00 in a research note on Wednesday, September 7th. Finally, Oppenheimer downgraded shares of UiPath from an “outperform” rating to a “market perform” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, UiPath presently has a consensus rating of “Hold” and an average price target of $23.26.
UiPath Trading Down 3.3 %
The firm has a market cap of $5.88 billion, a PE ratio of -13.95 and a beta of 0.45. The firm has a 50 day moving average price of $13.57 and a 200-day moving average price of $16.97.
UiPath (NYSE:PATH – Get Rating) last issued its quarterly earnings results on Tuesday, September 6th. The healthcare company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.06. UiPath had a negative net margin of 42.98% and a negative return on equity of 19.19%. The company had revenue of $242.22 million during the quarter, compared to the consensus estimate of $230.68 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. Equities analysts forecast that UiPath Inc. will post -0.63 earnings per share for the current fiscal year.
Hedge Funds Weigh In On UiPath
Several large investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in shares of UiPath by 202.5% during the 3rd quarter. Victory Capital Management Inc. now owns 35,540 shares of the healthcare company’s stock worth $448,000 after acquiring an additional 23,790 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in UiPath in the third quarter valued at approximately $9,888,000. Van ECK Associates Corp purchased a new position in UiPath in the third quarter valued at approximately $301,000. CWM LLC raised its holdings in UiPath by 191.0% during the third quarter. CWM LLC now owns 6,451 shares of the healthcare company’s stock worth $81,000 after purchasing an additional 4,234 shares in the last quarter. Finally, Steel Peak Wealth Management LLC lifted its position in shares of UiPath by 6.8% during the 3rd quarter. Steel Peak Wealth Management LLC now owns 33,203 shares of the healthcare company’s stock worth $419,000 after buying an additional 2,115 shares during the last quarter. Hedge funds and other institutional investors own 51.35% of the company’s stock.
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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.