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

UiPath (NYSE:PATH) had its price target reduced by stock analysts at Scotiabank from $15.00 to $12.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential upside of 18.75% from the stock’s current price.

Several other analysts have also recently commented on the stock. Evercore ISI decreased their price objective on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday. Morgan Stanley lowered their target price on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, UBS Group began coverage on UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, UiPath presently has an average rating of “Hold” and an average target price of $15.22.

UiPath Price Performance

UiPath stock traded down $1.73 during mid-day trading on Thursday, reaching $10.11. 21,204,739 shares of the company traded hands, compared to its average volume of 9,482,741. UiPath has a fifty-two week low of $9.37 and a fifty-two week high of $25.47. The firm’s fifty day moving average is $13.47 and its two-hundred day moving average is $13.18. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of -63.22 and a beta of 1.00.

Insider Activity at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction on 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 transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $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 Investors Weigh In On UiPath

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Trust acquired a new stake in UiPath during the fourth quarter valued at approximately $151,000. Focus Partners Advisor Solutions LLC bought a new position in UiPath during the fourth quarter worth $158,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in UiPath by 39.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,401,993 shares of the company’s stock worth $17,819,000 after purchasing an additional 397,121 shares during the period. Virtus Investment Advisers Inc. bought a new stake in UiPath during the fourth quarter valued at $160,000. Finally, Two Sigma Advisers LP raised its holdings in shares of UiPath by 29.0% during the fourth quarter. Two Sigma Advisers LP now owns 4,901,000 shares of the company’s stock worth $62,292,000 after purchasing an additional 1,100,800 shares during the period. Hedge funds and other 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.