UiPath Inc. (NYSE:PATH) Sees Large Increase in Short Interest

UiPath Inc. (NYSE:PATH) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 28,810,000 shares, a growth of 55.6% from the May 15th total of 18,510,000 shares. Based on an average daily volume of 10,200,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 6.6% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Thursday, May 30th. KeyCorp reaffirmed a “sector weight” rating on shares of UiPath in a report on Thursday, May 30th. William Blair lowered UiPath from an “outperform” rating to a “market perform” rating in a report on Thursday, May 30th. Barclays lowered their target price on UiPath from $25.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Finally, Morgan Stanley lowered their target price on UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.12.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $19.79, for a total transaction of $791,600.00. Following the transaction, the chief financial officer now owns 946,848 shares of the company’s stock, valued at $18,738,121.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

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

UiPath Stock Up 0.1 %

PATH opened at $11.54 on Friday. UiPath has a 52 week low of $11.49 and a 52 week high of $27.87. The business’s fifty day simple moving average is $17.85 and its 200 day simple moving average is $21.60.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The business had revenue of $405.25 million for the quarter, compared to analyst estimates of $383.32 million. On average, equities analysts expect that UiPath will post -0.2 EPS for the current fiscal year.

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.