Royal Bank of Canada Reaffirms Sector Perform Rating for UiPath (NYSE:PATH)

UiPath (NYSE:PATH)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $13.00 price objective on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 16.23% from the company’s previous close.

PATH has been the subject of several other reports. JPMorgan Chase & Co. lifted their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Bank of America reissued an “underperform” rating and set a $10.00 target price (down previously from $18.00) on shares of UiPath in a report on Thursday, March 13th. BMO Capital Markets reduced their target price on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research report on Friday, March 14th. UBS Group lowered their price target on shares of UiPath from $14.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, March 13th. Finally, Evercore ISI dropped their price objective on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday, March 13th. Two 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 MarketBeat, UiPath currently has an average rating of “Hold” and a consensus target price of $13.62.

UiPath Price Performance

UiPath stock traded down $0.16 during trading hours on Wednesday, hitting $11.19. The company had a trading volume of 2,553,762 shares, compared to its average volume of 9,549,266. UiPath has a one year low of $9.50 and a one year high of $23.35. The firm has a market cap of $6.15 billion, a PE ratio of -69.91 and a beta of 1.00. The firm has a 50-day moving average of $13.03 and a 200 day moving average of $13.07.

Insider Activity

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred 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 owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the business’s 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 directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of 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 increased its stake in shares of UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after buying an additional 1,742 shares during the period. V Square Quantitative Management LLC raised its holdings in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares during the last quarter. Finally, Quarry LP boosted its position in 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.

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.