Mizuho Lowers UiPath (NYSE:PATH) Price Target to $12.00

UiPath (NYSE:PATH) had its price target decreased by Mizuho from $14.00 to $12.00 in a report issued on Thursday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

PATH has been the subject of several other research reports. 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. Barclays lowered their price target on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. Morgan Stanley lowered their price target on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Bank of America restated an “underperform” rating and set a $10.00 price target (down previously from $18.00) on shares of UiPath in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.78.

UiPath Price Performance

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On UiPath

A number of institutional investors have recently added to or reduced their stakes in PATH. Smartleaf Asset Management LLC increased its holdings in shares of UiPath by 88.5% during the fourth 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 holdings in shares of UiPath by 47.8% during 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 acquiring an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after acquiring an additional 759 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after acquiring an additional 2,729 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

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.