Canaccord Genuity Group Cuts UiPath (NYSE:PATH) Price Target to $14.00

UiPath (NYSE:PATH) had its price objective lowered by Canaccord Genuity Group from $19.00 to $14.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on PATH. Barclays decreased their price objective on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Scotiabank dropped their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday. Bank of America reaffirmed an “underperform” rating and issued a $10.00 target price (down from $18.00) on shares of UiPath in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. Finally, Wells Fargo & Company cut their target price on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.53.

UiPath Stock Up 8.8 %

Shares of UiPath stock opened at $10.84 on Thursday. UiPath has a 52 week low of $9.50 and a 52 week high of $23.97. The company has a 50 day moving average price of $13.36 and a 200 day moving average price of $13.15. The firm has a market capitalization of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling

In other news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was 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 of the company’s stock, 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 at 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 value of $616,784.62. Following the completion of the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at $11,186,386.28. This 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 company insiders.

Hedge Funds Weigh In On UiPath

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Trust purchased a new stake in UiPath during the 4th quarter worth approximately $151,000. Focus Partners Advisor Solutions LLC acquired a new position in UiPath during the 4th quarter worth $158,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in UiPath by 39.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,401,993 shares of the company’s stock worth $17,819,000 after acquiring an additional 397,121 shares during the period. Virtus Investment Advisers Inc. acquired a new position in UiPath during the 4th quarter worth $160,000. Finally, Two Sigma Advisers LP boosted its position in UiPath by 29.0% during the 4th quarter. Two Sigma Advisers LP now owns 4,901,000 shares of the company’s stock worth $62,292,000 after acquiring an additional 1,100,800 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.