Evercore ISI Cuts UiPath (NYSE:PATH) Price Target to $12.00

UiPath (NYSE:PATH) had its target price reduced by analysts at Evercore ISI from $16.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential upside of 10.66% from the company’s previous close.

A number of other research analysts have also weighed in on PATH. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Thursday. UBS Group assumed coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price on the stock. Morgan Stanley cut their target price on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, UiPath currently has a consensus rating of “Hold” and a consensus target price of $14.53.

UiPath Trading Up 8.8 %

PATH stock opened at $10.84 on Thursday. The business’s 50-day moving average is $13.36 and its 200 day moving average is $13.15. UiPath has a 12-month low of $9.50 and a 12-month high of $23.97. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling

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

Institutional Trading of UiPath

Several large investors have recently modified their holdings of PATH. Smartleaf Asset Management LLC boosted its position in UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after acquiring an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. raised its stake in UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after purchasing an additional 804 shares during the period. EverSource Wealth Advisors LLC raised its stake in UiPath by 141.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after purchasing an additional 1,742 shares during the period. V Square Quantitative Management LLC raised its stake in UiPath by 33.4% during the fourth 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. Finally, Quarry LP raised its stake in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after acquiring an additional 2,729 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.