UiPath (NYSE:PATH) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of UiPath (NYSE:PATH) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $13.00 price objective on the stock.

A number of other equities research analysts have also commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday. BMO Capital Markets reduced their price objective on UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a report on Friday, March 14th. Mizuho dropped their target price on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Finally, Barclays cut their price target on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. 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 company. Based on data from MarketBeat.com, UiPath currently has a consensus rating of “Hold” and an average target price of $13.62.

UiPath Stock Performance

Shares of PATH opened at $11.25 on Wednesday. The stock has a fifty day moving average price of $12.99 and a two-hundred day moving average price of $13.06. The company has a market cap of $6.18 billion, a price-to-earnings ratio of -70.28 and a beta of 1.00. UiPath has a 52-week low of $9.50 and a 52-week high of $23.04.

Insiders Place Their Bets

In related news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated 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 owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % 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, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, 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. Corporate insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in PATH. CIBC Asset Management Inc increased its position in UiPath by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after buying an additional 736 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares in the last quarter. Tidal Investments LLC increased its position in UiPath by 3.7% during the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock worth $286,000 after buying an additional 797 shares during the period. True Wealth Design LLC lifted its holdings in shares of UiPath by 18.4% during the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock worth $66,000 after buying an additional 801 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after acquiring an additional 804 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.