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

UiPath (NYSE:PATH) had its target price lowered by Scotiabank from $15.00 to $12.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other analysts have also recently issued reports on the stock. Mizuho cut their price target on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. UBS Group began coverage on shares of UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Wells Fargo & Company reduced their price target on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday. Evercore ISI lowered their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday. Finally, Barclays reduced their target price on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.53.

UiPath Stock Up 8.8 %

PATH stock opened at $10.84 on Thursday. The company has a market capitalization of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00. The stock’s 50 day moving average is $13.36 and its two-hundred day moving average is $13.15. UiPath has a 52-week low of $9.50 and a 52-week high of $23.97.

Insider Activity

In related news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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 $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of UiPath 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. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its holdings in shares of UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after acquiring an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after purchasing an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in UiPath by 141.4% during the 4th 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 position in shares of UiPath by 33.4% during the 4th 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 period. Finally, Quarry LP raised its stake 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 buying an additional 2,729 shares in the last quarter. 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.