UiPath (NYSE:PATH) PT Raised to $30.00

UiPath (NYSE:PATH) had its price objective raised by equities research analysts at Scotiabank from $29.00 to $30.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the healthcare company’s stock. Scotiabank’s target price would indicate a potential upside of 30.07% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised UiPath from a “neutral” rating to an “overweight” rating and increased their target price for the company from $22.00 to $28.00 in a report on Thursday. Royal Bank of Canada increased their target price on UiPath from $27.00 to $29.00 and gave the company a “sector perform” rating in a report on Thursday. Barclays increased their target price on UiPath from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday. BMO Capital Markets upped their price target on UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Canaccord Genuity Group upped their price target on UiPath from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.13.

UiPath Stock Performance

Shares of NYSE:PATH traded up $0.32 during midday trading on Thursday, reaching $23.07. 9,842,354 shares of the company’s stock traded hands, 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 stock has a 50 day moving average of $23.52 and a 200 day moving average of $20.70.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $22.47, for a total value of $359,520.00. Following the completion of the transaction, the chief financial officer now owns 103,505 shares in the company, valued at approximately $2,325,757.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other UiPath 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashim Gupta sold 16,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $22.47, for a total value of $359,520.00. Following the completion of the sale, the chief financial officer now owns 103,505 shares of the company’s stock, valued at $2,325,757.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 411,000 shares of company stock worth $9,418,670. 31.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PATH. Raymond James Financial Services Advisors Inc. raised its position in shares of UiPath by 3.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company’s stock worth $885,000 after acquiring an additional 1,506 shares in the last quarter. MetLife Investment Management LLC acquired a new position in UiPath during the 1st quarter valued at about $184,000. BlackRock Inc. increased its position in UiPath by 1.9% during the 1st quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company’s stock valued at $114,786,000 after buying an additional 99,242 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in UiPath during the 1st quarter valued at about $534,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of UiPath in the first quarter valued at about $259,000. 59.04% of the stock is owned by institutional investors.

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.