UiPath (NYSE:PATH) PT Raised to $29.00 at Royal Bank of Canada

UiPath (NYSE:PATH) had its price objective increased by Royal Bank of Canada from $27.00 to $29.00 in a report issued on Thursday morning, Benzinga reports. They currently have a sector perform rating on the healthcare company’s stock.

A number of other equities research analysts also recently commented on the company. Scotiabank started coverage on UiPath in a report on Wednesday, February 21st. They set a sector perform rating for the company. JPMorgan Chase & Co. raised UiPath from a neutral rating to an overweight rating and lifted their target price for the stock from $22.00 to $28.00 in a report on Thursday. William Blair started coverage on UiPath in a report on Tuesday, January 2nd. They set an outperform rating for the company. Evercore ISI lifted their target price on UiPath from $24.00 to $27.00 and gave the stock an in-line rating in a report on Thursday. Finally, Needham & Company LLC lifted their target price on UiPath from $25.00 to $30.00 and gave the stock a buy rating in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $27.13.

UiPath Trading Up 1.4 %

Shares of PATH stock traded up $0.32 during trading hours on Thursday, reaching $23.07. 9,842,354 shares of the company’s stock were exchanged, compared to its average volume of 10,074,664. UiPath has a 1 year low of $12.38 and a 1 year high of $27.87. The stock has a market cap of $13.06 billion, a PE ratio of -135.46 and a beta of 0.97. The stock’s fifty day moving average price is $23.52 and its two-hundred day moving average price is $20.70.

Insider Activity

In related news, CFO Ashim Gupta sold 125,000 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. In related news, CFO Ashim Gupta sold 125,000 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. Also, Director Rich Wong sold 200,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the sale, the director now owns 429,418 shares of the company’s stock, valued at $9,928,144.16. The disclosure for this sale can be found here. Insiders sold 411,000 shares of company stock worth $9,418,670 over the last three months. Insiders own 31.03% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC increased its position in shares of UiPath by 3.1% during the fourth quarter. Intech Investment Management LLC now owns 14,324 shares of the healthcare company’s stock valued at $356,000 after acquiring an additional 426 shares during the last quarter. 180 Wealth Advisors LLC increased its position in shares of UiPath by 0.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 188,950 shares of the healthcare company’s stock valued at $4,497,000 after acquiring an additional 492 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in shares of UiPath by 4.9% in the fourth quarter. Bleakley Financial Group LLC now owns 12,691 shares of the healthcare company’s stock valued at $315,000 after purchasing an additional 598 shares during the period. Simplicity Solutions LLC boosted its stake in shares of UiPath by 4.9% in the fourth quarter. Simplicity Solutions LLC now owns 12,691 shares of the healthcare company’s stock valued at $315,000 after purchasing an additional 598 shares during the period. Finally, Creative Planning boosted its stake in shares of UiPath by 7.0% in the second quarter. Creative Planning now owns 10,163 shares of the healthcare company’s stock valued at $185,000 after purchasing an additional 666 shares during the period. 59.04% of the stock is currently owned by institutional investors and hedge funds.

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.