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

UiPath (NYSE:PATH) had its price target reduced by Scotiabank from $15.00 to $12.00 in a research note published on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities analysts have also issued reports about the company. Morgan Stanley dropped their price target on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday. Mizuho dropped their price target on UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays dropped their price target on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price target on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, UiPath has a consensus rating of “Hold” and an average price target of $14.78.

UiPath Price Performance

UiPath stock opened at $10.01 on Thursday. The stock’s 50 day moving average is $13.41 and its 200 day moving average is $13.16. The firm has a market cap of $5.50 billion, a P/E ratio of -62.59 and a beta of 1.00. UiPath has a one year low of $9.50 and a one year high of $25.47.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after purchasing an additional 1,152 shares during the period. First Horizon Advisors Inc. grew its stake in UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after purchasing an additional 804 shares during the period. EverSource Wealth Advisors LLC grew its stake in UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,742 shares during the period. V Square Quantitative Management LLC grew its stake in UiPath by 33.4% in the 4th 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 period. Finally, Quarry LP grew its stake in UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 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.