UiPath (NYSE:PATH) Price Target Cut to $15.00 by Analysts at Barclays

UiPath (NYSE:PATH) had its price objective dropped by analysts at Barclays from $16.00 to $15.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 15.21% from the company’s current price.

Several other research firms have also recently weighed in on PATH. Morgan Stanley increased their price target on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. BMO Capital Markets boosted their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. UBS Group assumed coverage on shares of UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Trading Down 3.1 %

UiPath stock traded down $0.41 during mid-day trading on Friday, hitting $13.02. The company had a trading volume of 4,732,370 shares, compared to its average volume of 8,796,534. UiPath has a 12 month low of $10.37 and a 12 month high of $27.87. The company has a market capitalization of $7.16 billion, a PE ratio of -81.38 and a beta of 0.96. The stock’s 50 day moving average price is $13.55 and its two-hundred day moving average price is $12.76.

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction 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 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. Insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of hedge funds and other institutional investors have recently bought and sold shares of PATH. Future Financial Wealth Managment LLC purchased a new stake in shares of UiPath during the third quarter worth about $26,000. JTC Employer Solutions Trustee Ltd acquired a new position in UiPath during the 3rd quarter valued at approximately $26,000. Quarry LP increased its position in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after acquiring an additional 2,729 shares during the period. Redwood Wealth Management Group LLC purchased a new position in UiPath in the 2nd quarter worth $43,000. Finally, Allspring Global Investments Holdings LLC lifted its position in UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after acquiring an additional 2,274 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.