JPMorgan Chase & Co. Boosts UiPath (NYSE:PATH) Price Target to $18.00

UiPath (NYSE:PATH – Get Rating) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $16.00 to $18.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the healthcare company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 5.57% from the company’s current price.

PATH has been the subject of several other reports. Mizuho lifted their price objective on shares of UiPath from $15.00 to $16.00 in a research note on Thursday. Credit Suisse Group decreased their target price on UiPath from $30.00 to $27.50 and set an “outperform” rating for the company in a research report on Wednesday, November 16th. Canaccord Genuity Group upgraded UiPath from a “hold” rating to a “buy” rating and lifted their target price for the stock from $14.50 to $19.00 in a research report on Thursday. Evercore ISI decreased their target price on UiPath to $17.00 in a research report on Friday, December 2nd. Finally, Wells Fargo & Company lifted their target price on UiPath from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 2nd. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, UiPath currently has a consensus rating of “Hold” and an average target price of $19.19.

UiPath Stock Down 1.0 %

NYSE PATH opened at $17.05 on Thursday. The company has a fifty day moving average of $15.06 and a two-hundred day moving average of $13.62. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of -28.42 and a beta of 0.60. UiPath has a 52 week low of $10.40 and a 52 week high of $31.88.

Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $16.61, for a total value of $664,400.00. Following the transaction, the chief financial officer now owns 1,359,051 shares in the company, valued at $22,573,837.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 31.88% of the stock is owned by insiders.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in PATH. Alphabet Inc. purchased a new stake in shares of UiPath during the third quarter worth about $177,406,000. ARK Investment Management LLC grew its stake in shares of UiPath by 22.6% during the third quarter. ARK Investment Management LLC now owns 46,084,074 shares of the healthcare company’s stock worth $581,120,000 after acquiring an additional 8,488,829 shares during the last quarter. Altimeter Capital Management LP grew its stake in shares of UiPath by 175.4% during the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock worth $71,579,000 after acquiring an additional 5,270,194 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of UiPath by 21.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,193,046 shares of the healthcare company’s stock worth $368,124,000 after acquiring an additional 5,169,501 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of UiPath by 899.5% during the fourth quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company’s stock worth $51,475,000 after acquiring an additional 3,644,799 shares during the last quarter. Hedge funds and other institutional investors own 56.40% of the company’s stock.

UiPath Company Profile

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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.