Wells Fargo & Company Has Lowered Expectations for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its price objective cut by Wells Fargo & Company from $13.00 to $11.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms also recently weighed in on PATH. Mizuho dropped their target price on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday. UBS Group began coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. Morgan Stanley reduced their target price on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, UiPath presently has a consensus rating of “Hold” and an average target price of $14.53.

UiPath Price Performance

Shares of PATH opened at $10.84 on Thursday. UiPath has a 1-year low of $9.50 and a 1-year high of $23.97. The company has a market capitalization of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00. The firm’s 50 day simple moving average is $13.36 and its 200 day simple moving average is $13.15.

Insider Buying and Selling

In other UiPath 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 transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares of the company’s stock, 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 can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of UiPath 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 transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UiPath

Several large investors have recently made changes to their positions in PATH. Smartleaf Asset Management LLC boosted its holdings in UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after acquiring an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after buying an additional 804 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of UiPath by 141.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after acquiring an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC lifted its position in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after acquiring an additional 759 shares in the last quarter. Finally, Quarry LP raised its stake in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other 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.