Royal Bank of Canada Issues Pessimistic Forecast for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its target price reduced by equities researchers at Royal Bank of Canada from $16.00 to $13.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 28.90% from the company’s previous close.

Other analysts have also issued reports about the stock. Scotiabank reduced their price objective on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday. Morgan Stanley reduced their price target on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Bank of America restated an “underperform” rating and issued a $10.00 target price (down previously from $18.00) on shares of UiPath in a report on Thursday. Finally, 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 report on Thursday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.78.

UiPath Price Performance

Shares of PATH traded down $1.75 during trading hours on Thursday, hitting $10.09. 30,907,278 shares of the company were exchanged, compared to its average volume of 9,520,684. The company has a market capitalization of $5.54 billion, a PE ratio of -63.28 and a beta of 1.00. The firm has a fifty day simple moving average of $13.47 and a 200-day simple moving average of $13.18. UiPath has a one year low of $9.37 and a one year high of $25.47.

Insiders Place Their Bets

In other UiPath news, 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 $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was 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 in the company, valued at $3,515,944.05. The trade was a 8.49 % 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 Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in UiPath by 88.5% during the fourth 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 in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of 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 boosted its holdings in UiPath by 141.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after buying an additional 1,742 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after acquiring an additional 759 shares during the last quarter. Finally, Quarry LP raised its holdings in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.