UiPath’s (PATH) Underperform Rating Reaffirmed at Bank of America

UiPath (NYSE:PATH)‘s stock had its “underperform” rating reissued by stock analysts at Bank of America in a research report issued on Thursday, Marketbeat.com reports. They currently have a $10.00 target price on the stock, down from their prior target price of $18.00. Bank of America‘s price target would suggest a potential downside of 7.78% from the stock’s current price.

Several other equities research analysts have also recently commented on PATH. JPMorgan Chase & Co. upped their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Barclays cut their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. UBS Group started coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 price target for the company. Morgan Stanley cut their price target on UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company 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 note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.53.

UiPath Trading Up 8.8 %

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. UiPath has a twelve month low of $9.50 and a twelve month high of $23.97. The business has a 50 day simple moving average of $13.36 and a 200-day simple moving average of $13.15.

Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by corporate insiders.

Institutional Trading of UiPath

Hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its stake in UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after buying an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of UiPath by 47.8% in 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 period. EverSource Wealth Advisors LLC raised its holdings in shares of UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after purchasing an additional 1,742 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of 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 during the period. Finally, Quarry LP raised its holdings in shares of UiPath by 654.4% in the 3rd 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 period. 62.50% of the stock is owned by institutional investors and hedge funds.

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.