Canaccord Genuity Group Cuts UiPath (NYSE:PATH) Price Target to $14.00

UiPath (NYSE:PATH) had its target price decreased by equities research analysts at Canaccord Genuity Group from $19.00 to $14.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 37.32% from the company’s previous close.

Several other research firms also recently commented on PATH. JPMorgan Chase & Co. lifted their price target 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. Evercore ISI decreased their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday. Wells Fargo & Company dropped their target price on UiPath from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday. BMO Capital Markets lifted their price target on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Finally, Bank of America reissued an “underperform” rating and set a $10.00 price objective (down previously from $18.00) on shares of UiPath in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.94.

UiPath Trading Down 13.8 %

Shares of NYSE PATH traded down $1.64 during midday trading on Thursday, hitting $10.20. 26,061,599 shares of the company’s stock were exchanged, compared to its average volume of 9,503,326. The business’s fifty day moving average price is $13.47 and its two-hundred day moving average price is $13.18. The company has a market cap of $5.60 billion, a price-to-earnings ratio of -63.96 and a beta of 1.00. UiPath has a 12-month low of $9.37 and a 12-month high of $25.47.

Insider Buying and Selling

In related 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 value of $326,250.00. Following the sale, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of UiPath 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 transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by insiders.

Institutional Trading of UiPath

Institutional investors and hedge funds have recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC purchased a new position in UiPath during the fourth quarter valued at approximately $298,000. Ontario Teachers Pension Plan Board lifted its stake in shares of UiPath by 136.0% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after buying an additional 62,650 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in UiPath by 60.1% in the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after buying an additional 209,300 shares during the period. Stifel Financial Corp increased its stake in UiPath by 30.1% in the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after buying an additional 74,959 shares in the last quarter. Finally, Senvest Management LLC raised its holdings in UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares during the period. 62.50% of the stock is currently 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.