UiPath’s (PATH) “Underperform” Rating Reaffirmed at Bank of America

Bank of America reaffirmed their underperform rating on shares of UiPath (NYSE:PATH) in a research report report published on Thursday morning, Marketbeat.com reports. The brokerage currently has a $10.00 target price on the stock, down from their previous target price of $18.00.

Other analysts have also recently issued reports about the company. BMO Capital Markets boosted their price target on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Barclays cut their target price on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. UBS Group assumed coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target for the company. Finally, Morgan Stanley cut their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report 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. Based on data from MarketBeat.com, UiPath has a consensus rating of “Hold” and an average target price of $14.78.

UiPath Price Performance

Shares of NYSE PATH opened at $10.01 on Thursday. UiPath has a 1 year low of $9.50 and a 1 year high of $25.47. The firm has a 50-day moving average of $13.41 and a 200 day moving average of $13.16. The stock has a market cap of $5.50 billion, a P/E ratio of -62.59 and a beta of 1.00.

Insider Transactions at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 856,538 shares in the company, 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. Company insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its stake in shares of UiPath by 17.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 104,608 shares of the company’s stock worth $1,339,000 after purchasing an additional 15,698 shares in the last quarter. Amalgamated Bank grew its holdings in UiPath by 7.1% during the third quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock valued at $350,000 after purchasing an additional 1,811 shares during the period. Principal Financial Group Inc. increased its position in UiPath by 10.5% in the third quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock worth $470,000 after buying an additional 3,477 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of UiPath by 7.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 179,083 shares of the company’s stock worth $2,292,000 after buying an additional 11,810 shares during the period. Finally, Versor Investments LP purchased a new position in shares of UiPath during the 3rd quarter valued at about $266,000. 62.50% of the stock is owned by hedge funds and other 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, 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.