UiPath (NYSE:PATH) Price Target Increased to $30.00 by Analysts at Canaccord Genuity Group

UiPath (NYSE:PATH) had its target price hoisted by Canaccord Genuity Group from $27.00 to $30.00 in a research note released on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the healthcare company’s stock.

PATH has been the subject of a number of other research reports. William Blair assumed coverage on shares of UiPath in a research note on Tuesday, January 2nd. They issued an outperform rating for the company. Barclays increased 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. JPMorgan Chase & Co. raised shares of UiPath from a neutral rating to an overweight rating and increased their price target for the company from $22.00 to $28.00 in a research report on Thursday. Scotiabank assumed coverage on shares of UiPath in a report on Wednesday, February 21st. They issued a sector perform rating for the company. Finally, Morgan Stanley raised their price objective on shares of UiPath from $16.00 to $17.00 and gave the company an equal weight rating in a research note on Friday, December 1st. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $27.13.

UiPath Price Performance

Shares of NYSE:PATH traded up $0.32 on Friday, hitting $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 50-day simple moving average of $23.52 and a 200 day simple moving average of $20.70. UiPath has a 1 year low of $12.38 and a 1 year high of $27.87. The company has a market capitalization of $13.06 billion, a PE ratio of -135.46 and a beta of 0.97.

Insider Activity

In other 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 sale, the chief financial officer now owns 788,148 shares of the company’s stock, valued at approximately $18,143,166.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Rich Wong sold 200,000 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $23.12, for a total value of $4,624,000.00. Following the completion of the sale, the director now directly owns 429,418 shares in the company, valued at approximately $9,928,144.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ashim Gupta sold 70,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $23.02, for a total value of $1,611,400.00. Following the completion of the sale, the chief financial officer now owns 788,148 shares of the company’s stock, valued at approximately $18,143,166.96. The disclosure for this sale can be found here. Insiders have sold a total of 411,000 shares of company stock valued at $9,418,670 in the last 90 days. 31.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UiPath

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in UiPath by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock worth $946,028,000 after purchasing an additional 334,085 shares during the last quarter. Gerber LLC purchased a new stake in shares of UiPath during the 4th quarter worth $455,000. Sierra Summit Advisors LLC purchased a new stake in UiPath in the fourth quarter valued at about $5,897,000. GSA Capital Partners LLP purchased a new position in shares of UiPath in the fourth quarter worth about $259,000. Finally, Public Employees Retirement System of Ohio raised its stake in shares of UiPath by 4.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 159,357 shares of the healthcare company’s stock worth $3,958,000 after purchasing an additional 6,335 shares during the last quarter. Hedge funds and other institutional investors own 59.04% 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.