Barclays Has Lowered Expectations for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its price objective lowered by Barclays from $15.00 to $12.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 10.66% from the stock’s current price.

PATH has been the topic of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note 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 target for the company. BMO Capital Markets raised their price target on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Finally, Morgan Stanley cut their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. Two investment 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.53.

UiPath Price Performance

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

Insider Activity at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the business’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 in the company, valued at $11,186,386.28. The trade was 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 corporate insiders.

Hedge Funds Weigh In On UiPath

Several large investors have recently made changes to their positions in PATH. Vanguard Group Inc. lifted its holdings in UiPath by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock worth $593,101,000 after buying an additional 576,458 shares in the last quarter. Senvest Management LLC increased its position in shares of UiPath by 29.2% in the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock valued at $178,890,000 after purchasing an additional 3,180,300 shares during the last quarter. Geode Capital Management LLC grew its position in shares of UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after buying an additional 493,502 shares during the last quarter. AQR Capital Management LLC grew its position in shares of UiPath by 45.3% in the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock valued at $84,209,000 after buying an additional 2,072,089 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of UiPath in the 4th quarter valued at $71,191,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.