UiPath’s (PATH) Sector Perform Rating Reaffirmed at Royal Bank of Canada

UiPath (NYSE:PATH)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They currently have a $13.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential upside of 19.64% from the stock’s previous close.

Several other analysts have also recently issued reports on PATH. Barclays reduced their price target on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company dropped their price target on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Scotiabank decreased their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a report on Thursday, March 13th. Evercore ISI reduced their price target on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, March 13th. Finally, Mizuho lowered their price objective on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, UiPath has an average rating of “Hold” and an average price target of $13.62.

UiPath Price Performance

Shares of PATH stock opened at $10.87 on Wednesday. UiPath has a 1-year low of $9.50 and a 1-year high of $23.04. The firm has a market cap of $5.97 billion, a PE ratio of -67.91 and a beta of 1.00. The company has a 50-day moving average of $12.94 and a two-hundred day moving average of $13.04.

Insider Buying and Selling

In related news, 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 transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 of the company’s stock, valued at $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of UiPath during the 4th quarter worth about $71,191,000. Jacobs Levy Equity Management Inc. raised its holdings in UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares in the last quarter. Senvest Management LLC lifted its position in UiPath by 29.2% in the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock worth $178,890,000 after purchasing an additional 3,180,300 shares during the period. AQR Capital Management LLC boosted its stake in UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock valued at $84,209,000 after purchasing an additional 2,072,089 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of UiPath during the 3rd quarter valued at $19,071,000. Institutional investors 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.