UiPath Inc. (NYSE:PATH) Receives Average Rating of “Hold” from Brokerages

Shares of UiPath Inc. (NYSE:PATH) have received a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $12.72.

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group cut their price objective on shares of UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. BMO Capital Markets cut their price objective on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research report on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research report on Wednesday, March 26th. Mizuho cut their price objective on shares of UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Finally, Barclays cut their price objective on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 98,795 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 987,322 shares in the company, valued at approximately $11,857,737.22. The trade was a 9.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Hitesh Ramani sold 12,500 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 314,891 shares of the company’s stock, valued at approximately $3,208,739.29. The trade was a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UiPath

A number of hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc lifted its holdings in shares of UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after acquiring an additional 736 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after acquiring an additional 759 shares during the last quarter. Tidal Investments LLC increased its stake in shares of UiPath by 3.7% in the fourth quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock worth $286,000 after buying an additional 797 shares during the period. True Wealth Design LLC increased its stake in shares of UiPath by 18.4% in the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock worth $66,000 after buying an additional 801 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after buying an additional 804 shares during the period. 62.50% of the stock is currently owned by institutional investors.

UiPath Trading Down 1.2%

PATH stock opened at $12.44 on Wednesday. The firm has a 50 day moving average of $11.25 and a 200-day 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 P/E ratio of -77.75 and a beta of 1.01.

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, 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.