UiPath (NYSE:PATH) Price Target Lowered to $11.50 at BMO Capital Markets

UiPath (NYSE:PATH) had its target price reduced by equities researchers at BMO Capital Markets from $16.00 to $11.50 in a report released on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 8.64% from the company’s previous close.

Several other research firms have also issued reports on PATH. Royal Bank of Canada reduced their price target on shares of UiPath from $16.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Thursday. Mizuho lowered their price target on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley dropped their target price on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Scotiabank cut their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group cut their price target on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.53.

UiPath Trading Up 6.2 %

NYSE PATH traded up $0.62 during trading on Friday, reaching $10.59. The company’s stock had a trading volume of 10,723,590 shares, compared to its average volume of 10,252,610. The firm has a 50 day moving average price of $13.41 and a 200 day moving average price of $13.16. UiPath has a 12 month low of $9.50 and a 12 month high of $23.97. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of -66.16 and a beta of 1.00.

Insiders Place Their Bets

In other UiPath news, 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 value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s 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 completion of the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its stake in UiPath by 88.5% during the fourth 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. grew its holdings 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 worth $32,000 after purchasing an additional 804 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in UiPath by 141.4% during the 4th 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 in the last quarter. V Square Quantitative Management LLC boosted its position in UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after purchasing an additional 759 shares in the last quarter. Finally, Quarry LP grew its stake in 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 purchasing an additional 2,729 shares during 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.