UiPath (NYSE:PATH) Stock Price Down 2.6% – What’s Next?

UiPath Inc. (NYSE:PATH) shares were down 2.6% during trading on Monday . The company traded as low as $12.48 and last traded at $12.54. Approximately 2,106,023 shares traded hands during trading, a decline of 78% from the average daily volume of 9,588,192 shares. The stock had previously closed at $12.88.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Thursday, December 19th. Barclays upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. 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 research note on Friday, December 6th. Finally, DA Davidson increased their price target on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. One 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.50.

UiPath Price Performance

The business has a 50 day moving average price of $13.44 and a 200 day moving average price of $12.69. The stock has a market capitalization of $6.99 billion, a PE ratio of -79.44 and a beta of 0.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PATH. Ontario Teachers Pension Plan Board lifted its holdings in shares of UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after purchasing an additional 62,650 shares in the last quarter. D.A. Davidson & CO. lifted its stake in UiPath by 60.1% during the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after acquiring an additional 209,300 shares during the period. Stifel Financial Corp lifted its stake in UiPath by 30.1% during the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after acquiring an additional 74,959 shares during the period. Senvest Management LLC boosted its holdings in shares of UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of UiPath by 667.7% in the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after acquiring an additional 88,468 shares during the period. Institutional investors own 62.50% 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, 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.