UiPath (NYSE:PATH) Price Target Cut to $14.00 by Analysts at Canaccord Genuity Group

UiPath (NYSE:PATH) had its price objective reduced by stock analysts at Canaccord Genuity Group from $19.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 37.32% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of UiPath in a report on Friday, December 6th. Wells Fargo & Company decreased their price target on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday. Morgan Stanley decreased their price target on UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. Scotiabank dropped their target price on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Evercore ISI decreased their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, UiPath has an average rating of “Hold” and an average price target of $14.94.

UiPath Stock Down 13.8 %

NYSE PATH traded down $1.64 on Thursday, reaching $10.20. The company had a trading volume of 26,061,599 shares, compared to its average volume of 9,503,326. The firm’s 50 day moving average price is $13.47 and its 200 day moving average price is $13.18. UiPath has a 12 month low of $9.37 and a 12 month high of $25.47. The stock has a market capitalization of $5.60 billion, a PE ratio of -63.96 and a beta of 1.00.

Insider Activity at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was 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 owns 856,538 shares of the company’s stock, valued at $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 insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its position in shares of UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. increased its holdings 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,742 shares during the period. V Square Quantitative Management LLC boosted its holdings in UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after buying an additional 759 shares in the last quarter. Finally, Quarry LP grew its position in UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after buying an additional 2,729 shares during the period. Institutional investors and hedge funds 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.