UiPath (NYSE:PATH) Earns Sector Perform Rating from Royal Bank of Canada

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

Other analysts have also issued research reports about the stock. BMO Capital Markets lowered their price target on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a research report on Friday, March 14th. Barclays dropped their target price on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. boosted their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Scotiabank cut their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Finally, UBS Group decreased their price target on UiPath from $14.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.62.

UiPath Stock Performance

PATH opened at $10.87 on Wednesday. UiPath has a fifty-two week low of $9.50 and a fifty-two week high of $23.04. The firm has a 50-day moving average of $12.94 and a 200 day moving average of $13.04. The firm has a market cap of $5.97 billion, a P/E ratio of -67.91 and a beta of 1.00.

Insiders Place Their Bets

In related news, CAO Hitesh Ramani sold 25,000 shares of the firm’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction that occurred on 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 owned by insiders.

Institutional Trading of UiPath

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