Barclays Cuts UiPath (NYSE:PATH) Price Target to $12.00

UiPath (NYSE:PATH) had its price objective dropped by equities researchers at Barclays from $15.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 18.84% from the stock’s current price.

PATH has been the topic of several other reports. Morgan Stanley lowered their price objective on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upped their price target on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. UBS Group began coverage on UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report 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, UiPath has an average rating of “Hold” and an average target price of $16.50.

UiPath Price Performance

Shares of UiPath stock traded down $1.73 during trading on Thursday, hitting $10.10. 17,368,225 shares of the company’s stock traded hands, compared to its average volume of 9,543,211. UiPath has a twelve month low of $9.50 and a twelve month high of $25.47. The company has a market cap of $5.55 billion, a PE ratio of -63.11 and a beta of 1.00. The firm’s fifty day moving average price is $13.47 and its 200 day moving average price is $13.18.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % 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 Trading of UiPath

Several hedge funds and other institutional investors have recently modified their holdings of PATH. American Trust acquired a new position in shares of UiPath during the fourth quarter worth about $151,000. Focus Partners Advisor Solutions LLC acquired a new position in UiPath during the 4th quarter worth approximately $158,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of UiPath by 39.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,401,993 shares of the company’s stock worth $17,819,000 after acquiring an additional 397,121 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new stake in shares of UiPath in the fourth quarter valued at approximately $160,000. Finally, Two Sigma Advisers LP lifted its position in shares of UiPath by 29.0% in the fourth quarter. Two Sigma Advisers LP now owns 4,901,000 shares of the company’s stock worth $62,292,000 after purchasing an additional 1,100,800 shares in the last quarter. Institutional investors and hedge funds 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.