UiPath (NYSE:PATH) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of UiPath (NYSE:PATH) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $13.00 price target on the stock.

A number of other equities research analysts have also recently commented on PATH. Scotiabank lowered their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 13th. Mizuho reduced their price target on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Evercore ISI decreased their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets cut their target price on UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research note on Friday, March 14th. Finally, Morgan Stanley reduced their price target 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, March 13th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.62.

UiPath Price Performance

PATH opened at $10.69 on Wednesday. UiPath has a fifty-two week low of $9.50 and a fifty-two week high of $22.83. The company’s 50-day moving average is $12.89 and its 200 day moving average is $13.03. The firm has a market capitalization of $5.87 billion, a P/E ratio of -66.78 and a beta of 1.00.

Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Several hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of UiPath by 68.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 160,369 shares of the company’s stock worth $2,038,000 after acquiring an additional 64,900 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new position in UiPath during the fourth quarter valued at $142,000. American Trust bought a new stake in UiPath during the 4th quarter worth approximately $151,000. Focus Partners Advisor Solutions LLC bought a new stake in UiPath during the fourth quarter valued at about $158,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 valued at $17,819,000 after buying an additional 397,121 shares in the last quarter. 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.