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

UiPath (NYSE:PATH) had its price target trimmed by Mizuho from $14.00 to $12.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. UBS Group initiated coverage on shares of UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target on the stock. Barclays decreased their price objective on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, BMO Capital Markets increased their target price 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. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, UiPath presently has an average rating of “Hold” and an average target price of $14.53.

UiPath Stock Performance

Shares of PATH stock opened at $10.84 on Thursday. The firm’s 50 day moving average price is $13.36 and its two-hundred day moving average price is $13.15. The stock 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 Activity at UiPath

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

Institutional Investors Weigh In On UiPath

A number of institutional investors and hedge funds have recently made changes to their positions in PATH. Janney Montgomery Scott LLC raised its position in UiPath by 17.7% during the third quarter. Janney Montgomery Scott LLC now owns 104,608 shares of the company’s stock worth $1,339,000 after acquiring an additional 15,698 shares in the last quarter. Amalgamated Bank increased its stake in shares of UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after purchasing an additional 1,811 shares during the last quarter. Principal Financial Group Inc. raised 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 purchasing an additional 3,477 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in 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 valued at $2,292,000 after purchasing an additional 11,810 shares during the last quarter. Finally, Versor Investments LP bought a new position in UiPath during the third quarter worth about $266,000. Institutional investors own 62.50% of the company’s stock.

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.