Canaccord Genuity Group Increases UiPath (NYSE:PATH) Price Target to $30.00

UiPath (NYSE:PATH) had its price target upped by equities researchers at Canaccord Genuity Group from $27.00 to $30.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the healthcare company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 30.07% from the company’s previous close.

Several other equities research analysts also recently commented on PATH. Barclays upped their price target on shares of UiPath from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, January 12th. Royal Bank of Canada raised their price objective on UiPath from $19.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, December 1st. Morgan Stanley raised their price target on shares of UiPath from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, December 1st. BMO Capital Markets increased their target price on shares of UiPath from $19.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, December 1st. Finally, Wells Fargo & Company upped their price target on shares of UiPath from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, December 1st. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.13.

UiPath Trading Up 1.4 %

Shares of NYSE PATH traded up $0.32 during midday trading on Friday, reaching $23.07. The company’s stock had a trading volume of 9,842,354 shares, compared to its average volume of 10,074,664. The company has a market cap of $13.06 billion, a price-to-earnings ratio of -135.46 and a beta of 0.97. UiPath has a one year low of $12.38 and a one year high of $27.87. The company has a 50 day moving average price of $23.52 and a 200 day moving average price of $20.70.

Insider Activity

In related news, CFO Ashim Gupta sold 70,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $23.02, for a total transaction of $1,611,400.00. Following the transaction, the chief financial officer now directly owns 788,148 shares of the company’s stock, valued at $18,143,166.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Rich Wong sold 200,000 shares of the company’s stock in a transaction dated 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 $9,928,144.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 70,000 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $23.02, for a total transaction of $1,611,400.00. Following the completion of the transaction, the chief financial officer now directly owns 788,148 shares in the company, valued at $18,143,166.96. The disclosure for this sale can be found here. Insiders sold a total of 411,000 shares of company stock valued at $9,418,670 in the last quarter. Company insiders own 31.03% of the company’s stock.

Institutional Investors Weigh In On UiPath

Institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its holdings in UiPath by 3.1% during the fourth quarter. Intech Investment Management LLC now owns 14,324 shares of the healthcare company’s stock valued at $356,000 after purchasing an additional 426 shares during the last quarter. 180 Wealth Advisors LLC grew its position in shares of UiPath by 0.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 188,950 shares of the healthcare company’s stock valued at $4,497,000 after purchasing an additional 492 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in UiPath by 4.9% during the 4th quarter. Bleakley Financial Group LLC now owns 12,691 shares of the healthcare company’s stock worth $315,000 after purchasing an additional 598 shares in the last quarter. Simplicity Solutions LLC boosted its stake in UiPath by 4.9% in the 4th quarter. Simplicity Solutions LLC now owns 12,691 shares of the healthcare company’s stock worth $315,000 after purchasing an additional 598 shares during the period. Finally, Creative Planning grew its holdings in UiPath by 7.0% during the 2nd quarter. Creative Planning now owns 10,163 shares of the healthcare company’s stock valued at $185,000 after buying an additional 666 shares in the last quarter. 59.04% of the stock is 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.