UiPath’s (PATH) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of UiPath (NYSE:PATH) in a research note released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $13.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group decreased 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, March 13th. Barclays reduced their price target on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. lifted their price objective on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Canaccord Genuity Group decreased their price objective on UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company lowered their price objective on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.62.

UiPath Stock Performance

Shares of PATH stock opened at $10.69 on Wednesday. The stock’s 50 day simple moving average is $12.89 and its 200 day simple moving average is $13.03. UiPath has a twelve month low of $9.50 and a twelve month high of $22.83. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of -66.78 and a beta of 1.00.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction on 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 represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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. Smartleaf Asset Management LLC lifted its holdings in UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after buying an additional 1,152 shares during the period. First Horizon Advisors Inc. raised its stake in UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after buying an additional 804 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of UiPath by 141.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after acquiring an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after buying an additional 2,729 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

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.