UiPath (NYSE:PATH) Sets New 12-Month Low After Analyst Downgrade

UiPath Inc. (NYSE:PATH)’s stock price hit a new 52-week low during mid-day trading on Friday after BMO Capital Markets lowered their price target on the stock from $16.00 to $11.50. BMO Capital Markets currently has a market perform rating on the stock. UiPath traded as low as $9.50 and last traded at $10.01, with a volume of 49454972 shares traded. The stock had previously closed at $11.83.

A number of other brokerages also recently issued reports on PATH. Mizuho lowered their price target on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday. UBS Group decreased their price objective on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a report on Thursday. Royal Bank of Canada decreased their price objective on UiPath from $16.00 to $13.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Scotiabank cut their price target on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.53.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the firm’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 directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of large investors have recently modified their holdings of the company. CIBC Asset Management Inc raised its holdings in shares of UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after purchasing an additional 736 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares during the period. Tidal Investments LLC raised its holdings in shares of UiPath by 3.7% during the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock valued at $286,000 after buying an additional 797 shares during the period. True Wealth Design LLC raised its holdings in shares of UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after buying an additional 801 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in shares of UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after buying an additional 804 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Stock Performance

The firm has a market capitalization of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00. The firm has a fifty day moving average of $13.36 and a 200 day moving average of $13.15.

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.