UiPath Inc. (NYSE:PATH) Receives $12.72 Consensus Target Price from Analysts

UiPath Inc. (NYSE:PATH) has been assigned a consensus rating of “Hold” from the nineteen brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $12.72.

A number of research analysts have recently issued reports on PATH shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $13.00 price objective on shares of UiPath in a report on Wednesday, March 26th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Wednesday, March 26th. BMO Capital Markets dropped their price target on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a research report on Friday, March 14th. Mizuho dropped their price target on shares of UiPath from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Finally, Evercore ISI dropped their price target on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, March 13th.

UiPath Trading Down 1.2%

Shares of PATH stock opened at $12.44 on Wednesday. The firm has a fifty day simple moving average of $11.25 and a two-hundred day simple moving average of $12.72. UiPath has a 12 month low of $9.38 and a 12 month high of $20.36. The firm has a market capitalization of $6.86 billion, a PE ratio of -77.75 and a beta of 1.01.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 98,795 shares of UiPath stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.01, for a total value of $1,186,527.95. Following the completion of the transaction, the chief financial officer now owns 987,322 shares in the company, valued at $11,857,737.22. This trade represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, the chief accounting officer now owns 314,891 shares of the company’s stock, valued at $3,208,739.29. The trade was a 3.82% decrease in their position. The disclosure for this sale can be found here. 23.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UiPath

Large investors have recently modified their holdings of the business. Jackson Creek Investment Advisors LLC purchased a new position in shares of UiPath in the fourth quarter worth about $298,000. ING Groep NV purchased a new position in shares of UiPath in the fourth quarter worth about $3,120,000. Pacer Advisors Inc. increased its stake in shares of UiPath by 698.1% in the fourth quarter. Pacer Advisors Inc. now owns 289,471 shares of the company’s stock worth $3,679,000 after purchasing an additional 253,203 shares in the last quarter. Savant Capital LLC increased its stake in shares of UiPath by 483.1% in the fourth quarter. Savant Capital LLC now owns 225,906 shares of the company’s stock worth $2,871,000 after purchasing an additional 187,161 shares in the last quarter. Finally, Washington Capital Management Inc. purchased a new position in shares of UiPath in the fourth quarter worth about $432,000. Hedge funds and other 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.