UiPath (NYSE:PATH) Price Target Cut to $11.00 by Analysts at Wells Fargo & Company

UiPath (NYSE:PATH) had its price objective cut by research analysts at Wells Fargo & Company from $13.00 to $11.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 8.43% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Barclays lowered their price objective on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Bank of America reaffirmed an “underperform” rating and issued a $10.00 price target (down previously from $18.00) on shares of UiPath in a research report on Thursday. UBS Group began coverage on UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective for the company. Morgan Stanley dropped their target price on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, BMO Capital Markets increased their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.39.

UiPath Stock Performance

UiPath stock traded down $1.69 during mid-day trading on Thursday, reaching $10.15. The stock had a trading volume of 19,789,590 shares, compared to its average volume of 9,476,847. UiPath has a fifty-two week low of $9.37 and a fifty-two week high of $25.47. The stock’s 50-day simple moving average is $13.47 and its 200-day simple moving average is $13.18. The firm has a market capitalization of $5.58 billion, a PE ratio of -63.50 and a beta of 1.00.

Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 47,227 shares of the business’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 sale, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. 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

A number of large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after acquiring an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. increased its stake in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after acquiring an additional 804 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in UiPath by 141.4% during 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 in the last quarter. V Square Quantitative Management LLC lifted its stake 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 purchasing an additional 759 shares during the last quarter. Finally, Quarry LP lifted its position in UiPath by 654.4% in the 3rd 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 last quarter. 62.50% of the stock is currently owned by 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.