Wells Fargo & Company Has Lowered Expectations for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its price target decreased by research analysts at Wells Fargo & Company from $13.00 to $11.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 1.44% from the company’s current price.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets raised their target price on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. UBS Group began coverage on UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research report on Friday, December 6th. Mizuho dropped their price objective on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.53.

UiPath Trading Up 8.8 %

Shares of PATH opened at $10.84 on Thursday. UiPath has a 12 month low of $9.50 and a 12 month high of $23.97. The stock’s 50 day moving average is $13.36 and its two-hundred day moving average is $13.15. The firm has a market cap of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00.

Insider Transactions at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the sale, 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. Insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in UiPath by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock worth $593,101,000 after purchasing an additional 576,458 shares during the period. Senvest Management LLC grew its holdings in shares of 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 acquiring an additional 3,180,300 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 493,502 shares during the period. AQR Capital Management LLC grew its holdings in UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock valued at $84,209,000 after buying an additional 2,072,089 shares during the last quarter. Finally, Norges Bank acquired a new stake in UiPath during the 4th quarter valued at $71,191,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.