UiPath (NYSE:PATH) Price Target Lowered to $10.00 at UBS Group

UiPath (NYSE:PATH) had its target price reduced by UBS Group from $14.00 to $10.00 in a research report released on Thursday morning,Benzinga reports. They currently have a sell rating on the stock.

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

UiPath Stock Performance

NYSE PATH opened at $10.84 on Thursday. The stock has a market cap of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00. The firm has a 50-day moving average of $13.36 and a 200-day moving average of $13.15. UiPath has a 52-week low of $9.50 and a 52-week high of $23.97.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. 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 hedge funds have recently added to or reduced their stakes in PATH. CIBC Asset Management Inc lifted its stake in shares of UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock valued at $187,000 after acquiring an additional 736 shares during the last quarter. V Square Quantitative Management LLC increased its holdings 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 purchasing an additional 759 shares in the last quarter. Tidal Investments LLC raised its position in UiPath by 3.7% in the fourth quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock valued at $286,000 after purchasing an additional 797 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of UiPath by 18.4% during the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after purchasing an additional 801 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of 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 last quarter. 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.