BMO Capital Markets Cuts UiPath (NYSE:PATH) Price Target to $11.50

UiPath (NYSE:PATH) had its price target reduced by BMO Capital Markets from $16.00 to $11.50 in a report published on Friday morning,Benzinga reports. They currently have a market perform rating on the stock.

Several other research firms have also issued reports on PATH. Mizuho decreased their price target on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday. Bank of America reissued an “underperform” rating and set a $10.00 target price (down from $18.00) on shares of UiPath in a research report on Thursday. JPMorgan Chase & Co. upped their price target on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Canaccord Genuity Group decreased their price objective on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays cut their target price on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. Two 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.53.

UiPath Trading Up 8.8 %

Shares of UiPath stock opened at $10.84 on Friday. UiPath has a 1 year low of $9.50 and a 1 year high of $23.97. The company’s fifty day simple moving average is $13.36 and its 200-day simple moving average is $13.15. The company 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 at UiPath

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

Institutional Investors Weigh In On UiPath

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its stake in shares of UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after purchasing an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. boosted 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 valued at $32,000 after buying an additional 804 shares during the last quarter. EverSource Wealth Advisors LLC boosted 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 valued at $38,000 after buying an additional 1,742 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of 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 acquiring an additional 759 shares during the last quarter. Finally, Quarry LP lifted its position in UiPath by 654.4% during the 3rd 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. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.