UiPath (NYSE:PATH) Earns Underperform Rating from Bank of America

UiPath (NYSE:PATH)‘s stock had its “underperform” rating restated by investment analysts at Bank of America in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a $10.00 price target on the stock, down from their previous price target of $18.00. Bank of America‘s target price would indicate a potential downside of 7.78% from the stock’s current price.

PATH has been the topic of several other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. Morgan Stanley lowered their target price on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday. Barclays reduced their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, BMO Capital Markets lifted their price target on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Two 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. Based on data from MarketBeat, UiPath presently has an average rating of “Hold” and a consensus price target of $14.53.

UiPath Stock Up 8.8 %

Shares of PATH opened at $10.84 on Thursday. UiPath has a 52-week low of $9.50 and a 52-week high of $23.97. The firm’s fifty day moving average is $13.36 and its two-hundred day moving average 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.

Insider Transactions at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the business’s 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 transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jackson Creek Investment Advisors LLC acquired a new position in UiPath in the fourth quarter valued at approximately $298,000. Ontario Teachers Pension Plan Board boosted its holdings in UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after purchasing an additional 62,650 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of UiPath by 60.1% in the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after acquiring an additional 209,300 shares during the period. Stifel Financial Corp boosted its holdings in shares of UiPath by 30.1% in the third 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 during the period. Finally, Senvest Management LLC boosted its holdings in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

About UiPath

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.