Royal Bank of Canada Reiterates “Sector Perform” Rating for UiPath (NYSE:PATH)

Royal Bank of Canada reaffirmed their sector perform rating on shares of UiPath (NYSE:PATHFree Report) in a research note published on Monday morning, Benzinga reports. They currently have a $29.00 price target on the healthcare company’s stock.

Several other brokerages have also recently issued reports on PATH. TD Cowen lifted their price objective on shares of UiPath from $25.00 to $28.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. BMO Capital Markets increased their price objective on UiPath from $24.00 to $28.00 and gave the company a market perform rating in a research report on Thursday, March 14th. DA Davidson lifted their target price on UiPath from $20.00 to $24.00 and gave the stock a neutral rating in a report on Thursday, March 14th. Evercore ISI increased their price target on UiPath from $24.00 to $27.00 and gave the company an in-line rating in a research report on Thursday, March 14th. Finally, Barclays boosted their price objective on UiPath from $23.00 to $25.00 and gave the stock an equal weight rating in a report on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $27.44.

Read Our Latest Research Report on PATH

UiPath Stock Down 0.1 %

NYSE:PATH opened at $21.55 on Monday. The business’s 50-day moving average price is $23.57 and its 200 day moving average price is $21.17. UiPath has a 52-week low of $12.38 and a 52-week high of $27.87. The firm has a market cap of $12.20 billion, a P/E ratio of -126.76 and a beta of 0.96.

Insider Activity at UiPath

In other UiPath news, Director Rich Wong sold 200,000 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $23.12, for a total value of $4,624,000.00. Following the transaction, the director now directly owns 429,418 shares of the company’s stock, valued at approximately $9,928,144.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Rich Wong sold 200,000 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the transaction, the director now owns 429,418 shares in the company, valued at approximately $9,928,144.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.84, for a total transaction of $365,440.00. Following the completion of the sale, the chief financial officer now directly owns 87,505 shares of the company’s stock, valued at approximately $1,998,614.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 302,000 shares of company stock valued at $6,960,360. Insiders own 31.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd boosted its position in UiPath by 94.4% during the fourth quarter. Quadrature Capital Ltd now owns 253,112 shares of the healthcare company’s stock worth $6,289,000 after purchasing an additional 122,931 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of UiPath by 50.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,135 shares of the healthcare company’s stock worth $475,000 after buying an additional 6,385 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of UiPath by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock worth $946,028,000 after buying an additional 334,085 shares during the period. Gerber LLC acquired a new position in UiPath in the 4th quarter valued at $455,000. Finally, Sierra Summit Advisors LLC bought a new position in UiPath in the 4th quarter worth $5,897,000. 62.50% of the stock is owned by institutional investors.

About UiPath

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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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.

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