UiPath (NYSE:PATH) Given New $11.00 Price Target at Wells Fargo & Company

UiPath (NYSE:PATH) had its price target decreased by research analysts at Wells Fargo & Company from $13.00 to $11.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 1.44% from the company’s current price.

Several other research firms have also commented on PATH. Bank of America reissued an “underperform” rating and issued a $10.00 price objective (down from $18.00) on shares of UiPath in a research report on Thursday. UBS Group assumed coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. BMO Capital Markets raised their price objective on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Thursday. Finally, 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 note on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.53.

UiPath Trading Up 8.8 %

Shares of PATH opened at $10.84 on Thursday. The stock’s fifty day simple moving average is $13.36 and its 200 day simple moving average is $13.15. UiPath has a twelve month low of $9.50 and a twelve month high of $23.97. The firm has a market capitalization of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was 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 owned by corporate insiders.

Institutional Investors Weigh In On UiPath

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in shares of UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after buying an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. increased its position in UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after buying an additional 804 shares during the period. EverSource Wealth Advisors LLC increased its position in UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after buying an additional 1,742 shares during the period. V Square Quantitative Management LLC increased its position in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after buying an additional 759 shares during the period. Finally, Quarry LP increased its position in UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after buying an additional 2,729 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.