UiPath (NYSE:PATH) Price Target Cut to $12.00 by Analysts at Scotiabank

UiPath (NYSE:PATH) had its price target decreased by Scotiabank from $15.00 to $12.00 in a report published on Thursday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Evercore ISI cut their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Mizuho cut their price objective on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Barclays cut their price objective on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. 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, the company has a consensus rating of “Hold” and a consensus price target of $14.78.

UiPath Stock Down 15.4 %

Shares of PATH opened at $10.01 on Thursday. The stock has a market capitalization of $5.50 billion, a P/E ratio of -62.59 and a beta of 1.00. UiPath has a twelve month low of $9.50 and a twelve month high of $25.47. The company has a 50 day moving average of $13.41 and a 200-day moving average of $13.16.

Insider Buying and Selling at UiPath

In other 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 transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction dated 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. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in shares of UiPath by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock valued at $187,000 after purchasing an additional 736 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after purchasing an additional 759 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of UiPath by 3.7% during the fourth quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock valued at $286,000 after purchasing an additional 797 shares in the last quarter. True Wealth Design LLC boosted its stake 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 valued at $66,000 after purchasing an additional 801 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after purchasing an additional 804 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

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.