UiPath’s (PATH) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of UiPath (NYSE:PATH) in a report released on Wednesday morning,Benzinga reports. They currently have a $13.00 target price on the stock.

Several other equities analysts have also recently commented on PATH. UBS Group cut their price target on shares of UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, March 13th. BMO Capital Markets cut their target price on UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research note on Friday, March 14th. Morgan Stanley decreased their price target on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Canaccord Genuity Group reduced their price objective on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, Barclays lowered their target price on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.62.

UiPath Stock Performance

Shares of NYSE PATH opened at $11.25 on Wednesday. UiPath has a 52 week low of $9.50 and a 52 week high of $23.04. The stock’s fifty day moving average is $12.99 and its 200 day moving average is $13.06. The stock has a market capitalization of $6.18 billion, a P/E ratio of -70.28 and a beta of 1.00.

Insider Activity

In other news, 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 transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now directly 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 SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. The trade was 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

Hedge funds have recently made changes to their positions in the business. Jackson Creek Investment Advisors LLC acquired a new stake in UiPath during the fourth quarter worth approximately $298,000. D.A. Davidson & CO. grew its position in shares of UiPath by 60.1% during the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after buying an additional 209,300 shares during the period. Stifel Financial Corp increased its stake in shares of UiPath by 30.1% in the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after acquiring an additional 74,959 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of UiPath by 667.7% during the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after acquiring an additional 88,468 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after acquiring an additional 3,411,562 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

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.