Bank of America Reiterates “Underperform” Rating for UiPath (NYSE:PATH)

UiPath (NYSE:PATH)‘s stock had its “underperform” rating reiterated by equities researchers at Bank of America in a report issued on Thursday,Benzinga reports. They currently have a $10.00 target price on the stock, down from their previous target price of $18.00. Bank of America‘s price target indicates a potential downside of 15.63% from the stock’s previous close.

Several other brokerages have also recently issued reports on PATH. UBS Group started coverage on UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target for the company. JPMorgan Chase & Co. upped their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Thursday. Morgan Stanley cut their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Barclays decreased their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, UiPath presently has a consensus rating of “Hold” and a consensus target price of $16.78.

UiPath Stock Performance

NYSE:PATH opened at $11.85 on Thursday. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of -74.08 and a beta of 1.00. UiPath has a 52 week low of $9.64 and a 52 week high of $25.47. The firm’s 50-day simple moving average is $13.47 and its 200 day simple moving average is $13.18.

Insider Transactions at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value 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 is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $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. 22.37% of the stock is owned by company insiders.

Institutional Trading of UiPath

A number of large investors have recently bought and sold shares of PATH. Smartleaf Asset Management LLC boosted its position in shares of UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after purchasing an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after buying an additional 804 shares during the period. EverSource Wealth Advisors LLC boosted 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 buying an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after buying an additional 759 shares in the last quarter. Finally, Quarry LP grew its position in shares of UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after buying an additional 2,729 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.