UiPath (NYSE:PATH) Given Underperform Rating at Bank of America

UiPath (NYSE:PATH)‘s stock had its “underperform” rating reiterated by equities research analysts at Bank of America in a research note issued on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock, down from their prior price target of $18.00. Bank of America‘s price target would suggest a potential downside of 15.63% from the stock’s previous close.

Several other research analysts have also issued reports on PATH. JPMorgan Chase & Co. raised their target price on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley lowered their target price on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. BMO Capital Markets increased their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Finally, UBS Group started coverage on UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.78.

UiPath Trading Up 1.0 %

PATH opened at $11.85 on Thursday. UiPath has a 1-year low of $9.64 and a 1-year high of $25.47. The stock has a market capitalization of $6.51 billion, a PE ratio of -74.08 and a beta of 1.00. The firm has a 50-day moving average price of $13.47 and a two-hundred day moving average price of $13.18.

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the sale, the chief financial officer now directly owns 856,538 shares in the company, 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. Insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc increased its holdings in shares of UiPath by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after acquiring an additional 736 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of UiPath by 33.4% in 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 during the last quarter. Tidal Investments LLC raised its position in shares of UiPath by 3.7% in the fourth quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock valued at $286,000 after purchasing an additional 797 shares during the period. True Wealth Design LLC raised its position in shares of UiPath by 18.4% in the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after purchasing an additional 801 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after buying an additional 804 shares during the period. Institutional investors own 62.50% of the company’s stock.

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.