UiPath (NYSE:PATH) Price Target Cut to $13.00 by Analysts at Royal Bank of Canada

UiPath (NYSE:PATH) had its price objective decreased by Royal Bank of Canada from $16.00 to $13.00 in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

PATH has been the subject of several other reports. Mizuho lowered their target price on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley lowered their price objective on UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday. BMO Capital Markets lifted their price objective on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Thursday. Finally, Evercore ISI lowered their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.78.

UiPath Stock Down 15.4 %

Shares of NYSE:PATH opened at $10.01 on Thursday. The firm has a market cap of $5.50 billion, a P/E ratio of -62.59 and a beta of 1.00. UiPath has a 12-month low of $9.50 and a 12-month high of $25.47. The business has a fifty day simple moving average of $13.41 and a 200 day simple moving average of $13.16.

Insider Activity

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UiPath

Hedge funds have recently modified their holdings of the stock. Jackson Creek Investment Advisors LLC bought a new stake in UiPath during the 4th quarter valued at $298,000. Ontario Teachers Pension Plan Board raised its holdings in UiPath by 136.0% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after acquiring an additional 62,650 shares during the period. D.A. Davidson & CO. raised its holdings 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 raised its holdings 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. Finally, Senvest Management LLC raised its holdings in 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 period. Institutional investors own 62.50% of the company’s stock.

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.