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

UiPath (NYSE:PATH) had its price target reduced by BMO Capital Markets from $16.00 to $11.50 in a research report report published on Friday,Benzinga reports. They currently have a market perform rating on the stock.

PATH has been the topic of several other research reports. Royal Bank of Canada cut their target price on UiPath from $16.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Bank of America restated an “underperform” rating and set a $10.00 price target (down previously from $18.00) on shares of UiPath in a research note on Thursday. Wells Fargo & Company dropped their price target on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Scotiabank dropped their price target on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Thursday. Two 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.53.

UiPath Price Performance

PATH opened at $10.84 on Friday. The business’s 50-day moving average is $13.36 and its two-hundred day moving average is $13.15. UiPath has a 1 year low of $9.50 and a 1 year high of $23.97. The firm has a market capitalization of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the 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 transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. The trade was 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PATH. Janney Montgomery Scott LLC raised its stake in shares of UiPath by 17.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 104,608 shares of the company’s stock worth $1,339,000 after buying an additional 15,698 shares during the period. Amalgamated Bank raised its stake in shares of UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after buying an additional 1,811 shares during the period. Principal Financial Group Inc. raised its stake in shares of UiPath by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock worth $470,000 after buying an additional 3,477 shares during the period. Versor Investments LP acquired a new position in shares of UiPath during the 3rd quarter worth approximately $266,000. Finally, Nations Financial Group Inc. IA ADV raised its stake in shares of UiPath by 6.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock worth $334,000 after buying an additional 1,654 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

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.