UiPath (NYSE:PATH) Given New $13.00 Price Target at Royal Bank of Canada

UiPath (NYSE:PATH) had its price target dropped by equities researchers at Royal Bank of Canada from $16.00 to $13.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 28.90% from the company’s current price.

Several other research firms have also recently weighed in on PATH. Bank of America reaffirmed an “underperform” rating and set a $10.00 price objective (down from $18.00) on shares of UiPath in a research report on Thursday. Evercore ISI reduced their target price on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Canaccord Genuity Group reduced their price objective on shares of UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday. Finally, UBS Group lowered their target price on UiPath from $14.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday. Two research 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, the company currently has a consensus rating of “Hold” and an average target price of $14.78.

UiPath Trading Down 14.8 %

Shares of PATH stock traded down $1.75 during trading hours on Thursday, hitting $10.09. 30,907,278 shares of the company were exchanged, compared to its average volume of 9,520,684. The company has a market capitalization of $5.54 billion, a PE ratio of -63.28 and a beta of 1.00. UiPath has a 52 week low of $9.37 and a 52 week high of $25.47. The business has a 50 day moving average of $13.47 and a two-hundred day moving average of $13.18.

Insider Buying and Selling at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, 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 Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its position in UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after buying an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of UiPath by 47.8% during the 4th 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 during the period. EverSource Wealth Advisors LLC grew its holdings in shares of UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after purchasing an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC raised its stake in UiPath by 33.4% in 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. Finally, Quarry LP lifted its position in UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares during the period. 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.