Morgan Stanley Lowers UiPath (NYSE:PATH) Price Target to $12.00

UiPath (NYSE:PATH) had its target price trimmed by Morgan Stanley from $16.00 to $12.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms also recently commented on PATH. UBS Group began coverage on shares of UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. Barclays lowered their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. BMO Capital Markets raised their price objective on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.53.

UiPath Stock Performance

UiPath stock opened at $10.84 on Thursday. UiPath has a one year low of $9.50 and a one year high of $23.97. The company has a market cap of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00. The business has a fifty day moving average of $13.36 and a two-hundred day moving average of $13.15.

Insiders Place Their Bets

In other 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred 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 directly 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. Corporate insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of institutional investors and hedge funds have recently made changes to their positions in PATH. Janney Montgomery Scott LLC grew its position in UiPath by 17.7% during the third quarter. Janney Montgomery Scott LLC now owns 104,608 shares of the company’s stock valued at $1,339,000 after acquiring an additional 15,698 shares during the period. Amalgamated Bank lifted its stake in shares of UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock valued at $350,000 after purchasing an additional 1,811 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of UiPath by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after purchasing an additional 3,477 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of UiPath by 7.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 179,083 shares of the company’s stock worth $2,292,000 after purchasing an additional 11,810 shares during the period. Finally, Versor Investments LP acquired a new stake in UiPath during the 3rd quarter worth approximately $266,000. 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.