Barclays Issues Pessimistic Forecast for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its target price reduced by equities research analysts at Barclays from $16.00 to $15.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 15.21% from the company’s previous close.

Other analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. Morgan Stanley raised their price target on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, UBS Group assumed coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Price Performance

NYSE:PATH traded down $0.41 during mid-day trading on Friday, hitting $13.02. The company’s stock had a trading volume of 4,732,370 shares, compared to its average volume of 8,796,534. The business’s fifty day moving average is $13.55 and its two-hundred day moving average is $12.76. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of -81.38 and a beta of 0.96. UiPath has a 1 year low of $10.37 and a 1 year high of $27.87.

Insider Buying and Selling at UiPath

In other UiPath news, 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 transaction of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The shares were 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 in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board lifted its holdings in shares of UiPath by 136.0% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after acquiring an additional 62,650 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of UiPath by 60.1% during the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after purchasing an additional 209,300 shares in the last quarter. Stifel Financial Corp boosted its stake 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 purchasing an additional 74,959 shares during the period. Senvest Management LLC increased its stake in UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares during the period. Finally, Quantbot Technologies LP increased its stake in UiPath by 667.7% during the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after buying an additional 88,468 shares during the period. 62.50% of the stock is currently 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.