Brokerages Set UiPath Inc. (NYSE:PATH) PT at $17.50

UiPath Inc. (NYSE:PATH) has received an average recommendation of “Hold” from the nineteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $17.44.

A number of research firms have issued reports on PATH. BMO Capital Markets lifted their price objective 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. Morgan Stanley raised their price target on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Wednesday. UBS Group initiated coverage on UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction that occurred 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 of the company’s stock, valued at $11,186,386.28. This 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 currently owned by insiders.

Institutional Trading of UiPath

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new position in UiPath during the 3rd quarter valued at about $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in UiPath during the third quarter valued at approximately $26,000. Quarry LP increased its holdings in UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after acquiring an additional 2,729 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in UiPath in the 2nd quarter worth approximately $43,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after purchasing an additional 2,274 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

UiPath Stock Up 0.8 %

Shares of NYSE:PATH opened at $13.39 on Thursday. The business’s 50 day moving average is $13.59 and its 200 day moving average is $12.78. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87.

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.