UiPath (NYSE:PATH) PT Raised to $24.00 at DA Davidson

UiPath (NYSE:PATH) had its price target hoisted by equities researchers at DA Davidson from $20.00 to $24.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the healthcare company’s stock. DA Davidson’s target price suggests a potential upside of 4.05% from the stock’s current price.

Several other research firms have also weighed in on PATH. Needham & Company LLC raised their price objective on UiPath from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI raised their price target on shares of UiPath from $24.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday. JPMorgan Chase & Co. upgraded shares of UiPath from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $22.00 to $28.00 in a research report on Thursday. Morgan Stanley raised their target price on shares of UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted their target price on shares of UiPath from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Thursday. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.13.

UiPath Price Performance

PATH traded up $0.32 during trading on Thursday, hitting $23.07. 9,842,354 shares of the stock traded hands, compared to its average volume of 10,074,664. The business has a 50 day moving average price of $23.52 and a 200 day moving average price of $20.70. The company has a market cap of $13.06 billion, a price-to-earnings ratio of -135.46 and a beta of 0.97. UiPath has a twelve month low of $12.38 and a twelve month high of $27.87.

Insider Activity at UiPath

In other news, CFO Ashim Gupta sold 125,000 shares of the stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $22.59, for a total transaction of $2,823,750.00. Following the completion of the sale, the chief financial officer now directly owns 858,148 shares in the company, valued at $19,385,563.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Ashim Gupta sold 125,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $22.59, for a total value of $2,823,750.00. Following the transaction, the chief financial officer now directly owns 858,148 shares of the company’s stock, valued at approximately $19,385,563.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rich Wong sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $23.12, for a total value of $4,624,000.00. Following the sale, the director now directly owns 429,418 shares of the company’s stock, valued at approximately $9,928,144.16. The disclosure for this sale can be found here. Insiders have sold 411,000 shares of company stock worth $9,418,670 over the last ninety days. Insiders own 31.03% of the company’s stock.

Hedge Funds Weigh In On UiPath

Several institutional investors have recently made changes to their positions in PATH. Royal London Asset Management Ltd. increased its stake in UiPath by 5.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 139,544 shares of the healthcare company’s stock valued at $2,388,000 after purchasing an additional 7,742 shares in the last quarter. Barclays PLC raised its holdings in shares of UiPath by 55.2% in the 2nd quarter. Barclays PLC now owns 968,036 shares of the healthcare company’s stock worth $16,039,000 after acquiring an additional 344,499 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in UiPath in the 3rd quarter valued at about $203,000. Symmetry Partners LLC acquired a new position in UiPath during the 4th quarter valued at about $205,000. Finally, Invesco Ltd. increased its holdings in UiPath by 2.8% during the 3rd quarter. Invesco Ltd. now owns 399,181 shares of the healthcare company’s stock worth $6,830,000 after purchasing an additional 10,863 shares in the last quarter. Institutional investors and hedge funds own 59.04% 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.