UiPath (NYSE:PATH) Price Target Lowered to $12.00 at Scotiabank

UiPath (NYSE:PATH) had its price objective cut by Scotiabank from $15.00 to $12.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. Bank of America restated an “underperform” rating and set a $10.00 price objective (down previously from $18.00) on shares of UiPath in a report on Thursday. Morgan Stanley reduced their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, BMO Capital Markets boosted their price target on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.53.

UiPath Stock Performance

Shares of NYSE:PATH opened at $10.84 on Thursday. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of -67.78 and a beta of 1.00. UiPath has a 1-year low of $9.50 and a 1-year high of $23.97. The company has a 50 day moving average price of $13.36 and a 200 day moving average price of $13.15.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now owns 269,421 shares of the company’s stock, 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 owned by corporate insiders.

Hedge Funds Weigh In On UiPath

Several institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased 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 acquiring an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. boosted its position 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 boosted its position 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 grew its holdings in UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after purchasing an additional 759 shares during the last quarter. Finally, Quarry LP raised its position in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares during the period. 62.50% of the stock is currently owned by institutional investors.

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.