Barclays Lowers UiPath (NYSE:PATH) Price Target to $15.00

UiPath (NYSE:PATH) had its target price cut by Barclays from $16.00 to $15.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday, December 19th. Morgan Stanley upped their price target on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Wells Fargo & Company reduced their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets lifted their target price on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their price target 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. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.44.

UiPath Stock Performance

Shares of PATH opened at $12.97 on Friday. The firm’s 50-day simple moving average is $13.56 and its two-hundred day simple moving average is $12.76. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The stock has a market cap of $7.13 billion, a PE ratio of -81.06 and a beta of 0.96.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction on 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 owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently bought and sold shares of PATH. Cowa LLC raised its stake in shares of UiPath by 4.4% in the third quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after buying an additional 1,118 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in UiPath by 6.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock worth $334,000 after acquiring an additional 1,654 shares during the period. Amalgamated Bank boosted its position in shares of UiPath by 7.1% in the third quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after purchasing an additional 1,811 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of UiPath by 10.6% in the third quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock worth $267,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of UiPath during the 3rd quarter valued at $26,000. 62.50% of the stock is currently owned by hedge funds and other 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, 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.