UiPath (NYSE:PATH) Receives “Sector Perform” Rating from Royal Bank of Canada

UiPath (NYSE:PATH)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $13.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential upside of 16.23% from the stock’s current price.

PATH has been the topic of a number of other reports. Barclays reduced their price target on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Mizuho reduced their target price on UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Wednesday. Bank of America reiterated an “underperform” rating and set a $10.00 price objective (down previously from $18.00) on shares of UiPath in a report on Thursday, March 13th. Finally, Evercore ISI lowered their target price on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, UiPath presently has a consensus rating of “Hold” and a consensus target price of $13.62.

UiPath Stock Down 1.4 %

UiPath stock traded down $0.16 during midday trading on Wednesday, hitting $11.19. 2,553,762 shares of the stock were exchanged, compared to its average volume of 9,549,266. The stock has a market capitalization of $6.15 billion, a PE ratio of -69.91 and a beta of 1.00. The company has a fifty day simple moving average of $13.03 and a two-hundred day simple moving average of $13.07. UiPath has a 52 week low of $9.50 and a 52 week high of $23.35.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the business’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 transaction of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’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 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 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

A number of hedge funds and other institutional investors have recently modified their holdings of PATH. Wealth Enhancement Advisory Services LLC raised its holdings in shares of UiPath by 68.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 160,369 shares of the company’s stock valued at $2,038,000 after purchasing an additional 64,900 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in UiPath during the fourth quarter worth approximately $142,000. American Trust bought a new stake in UiPath in the fourth quarter valued at approximately $151,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of UiPath in the fourth quarter valued at approximately $158,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 during the period. Institutional investors 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.