UiPath (NASDAQ:PATH) Shares Gap Down to $76.00

UiPath Inc. (NASDAQ:PATH)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $76.00, but opened at $71.00. UiPath shares last traded at $72.00, with a volume of 43,050 shares.

A number of brokerages have recently commented on PATH. Macquarie began coverage on shares of UiPath in a report on Monday, May 17th. They issued a “neutral” rating and a $69.00 price target on the stock. Berenberg Bank began coverage on shares of UiPath in a report on Wednesday, May 19th. They issued a “hold” rating and a $64.00 price target on the stock. Wolfe Research began coverage on shares of UiPath in a report on Monday, May 17th. They issued a “peer perform” rating and a $70.00 price target on the stock. Morgan Stanley increased their target price on shares of UiPath from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, KeyCorp increased their price target on shares of UiPath from $82.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $76.89.

The firm has a 50-day moving average price of $56.76.

UiPath (NASDAQ:PATH) last issued its quarterly earnings results on Monday, June 7th. The healthcare company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.07.

In related news, major shareholder East Fund 2013 Sca Sic Digital sold 2,100,400 shares of the stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $56.00, for a total value of $117,622,400.00. Also, CEO Daniel Dines sold 1,383,168 shares of the stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $56.00, for a total transaction of $77,457,408.00. Over the last quarter, insiders sold 5,011,241 shares of company stock valued at $280,629,496.

About UiPath (NASDAQ:PATH)

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. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.

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