Evercore ISI Cuts UiPath (NYSE:PATH) Price Target to $12.00

UiPath (NYSE:PATH) had its target price reduced by Evercore ISI from $16.00 to $12.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an in-line rating on the stock.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Morgan Stanley reduced their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. UBS Group began coverage on UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target on the stock. Finally, Barclays dropped their price objective on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, UiPath has an average rating of “Hold” and an average price target of $14.53.

UiPath Stock Up 8.8 %

Shares of PATH opened at $10.84 on Thursday. The business has a fifty day moving average of $13.36 and a 200 day moving average of $13.15. The company has a market cap of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00. UiPath has a 52-week low of $9.50 and a 52-week high of $23.97.

Insider Buying and Selling at UiPath

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its stake in UiPath by 17.7% in the third quarter. Janney Montgomery Scott LLC now owns 104,608 shares of the company’s stock valued at $1,339,000 after purchasing an additional 15,698 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock valued at $350,000 after buying an additional 1,811 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of UiPath by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after buying an additional 3,477 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of UiPath by 7.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 179,083 shares of the company’s stock worth $2,292,000 after buying an additional 11,810 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of UiPath during the 3rd quarter worth approximately $266,000. 62.50% of the stock is 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.