Barclays Issues Pessimistic Forecast for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its target price cut by equities researchers at Barclays from $15.00 to $12.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 10.66% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Thursday. Bank of America reiterated an “underperform” rating and issued a $10.00 price objective (down previously from $18.00) on shares of UiPath in a research report on Thursday. JPMorgan Chase & Co. raised their price target on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Morgan Stanley lowered their price target on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.53.

UiPath Stock Up 8.8 %

PATH stock opened at $10.84 on Thursday. The firm has a market cap of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00. The business has a 50 day moving average of $13.36 and a 200-day moving average of $13.15. UiPath has a 12-month low of $9.50 and a 12-month high of $23.97.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction that occurred 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 directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of hedge funds have recently added to or reduced their stakes in PATH. Vanguard Group Inc. grew its position in shares of UiPath by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock valued at $593,101,000 after acquiring an additional 576,458 shares during the period. Senvest Management LLC lifted its stake in UiPath by 29.2% in the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock worth $178,890,000 after purchasing an additional 3,180,300 shares in the last quarter. Geode Capital Management LLC lifted its stake in UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after purchasing an additional 493,502 shares in the last quarter. AQR Capital Management LLC lifted its stake in UiPath by 45.3% in the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock worth $84,209,000 after purchasing an additional 2,072,089 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of UiPath during the 4th quarter valued at about $71,191,000. 62.50% of the stock is currently owned by hedge funds and other 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.