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

UiPath (NYSE:PATH) had its target price trimmed by BMO Capital Markets from $16.00 to $11.50 in a research note published on Friday,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other research firms have also recently weighed in on PATH. Scotiabank cut their price target on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Thursday. Evercore ISI dropped their price target on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday. Bank of America restated an “underperform” rating and set a $10.00 target price (down from $18.00) on shares of UiPath in a report on Thursday. Finally, Canaccord Genuity Group dropped their price target on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.53.

UiPath Stock Performance

NYSE PATH opened at $10.84 on Friday. The company has a 50-day simple moving average of $13.36 and a 200-day simple moving average of $13.15. UiPath has a one year low of $9.50 and a one year high of $23.97. The firm has a market capitalization of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the business’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 value of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. 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 the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This 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.

Hedge Funds Weigh In On UiPath

Institutional investors have recently bought and sold shares of the stock. Jackson Creek Investment Advisors LLC bought a new stake in shares of UiPath during the 4th quarter worth about $298,000. Ontario Teachers Pension Plan Board boosted its position in UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after purchasing an additional 62,650 shares during the period. D.A. Davidson & CO. raised its position in shares of UiPath by 60.1% in the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after purchasing an additional 209,300 shares during the period. Stifel Financial Corp lifted its stake in shares of UiPath by 30.1% in the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after buying an additional 74,959 shares during the last quarter. Finally, Senvest Management LLC boosted its holdings in shares of UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares during the period. 62.50% of the stock is currently owned by institutional investors.

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.