UiPath’s (PATH) Underperform Rating Reiterated at Bank of America

Bank of America reaffirmed their underperform rating on shares of UiPath (NYSE:PATH) in a research report report published on Thursday, Marketbeat.com reports. Bank of America currently has a $10.00 target price on the stock, down from their previous target price of $18.00.

Several other brokerages have also weighed in on PATH. UBS Group initiated coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Barclays decreased their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley cut their price target on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.53.

UiPath Trading Up 8.8 %

NYSE:PATH opened at $10.84 on Thursday. The stock has a 50 day moving average of $13.36 and a 200-day moving average of $13.15. The firm has a market capitalization of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00. UiPath has a 52 week low of $9.50 and a 52 week high of $23.97.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by corporate insiders.

Institutional Trading of UiPath

A number of hedge funds have recently bought and sold shares of the company. American Trust acquired a new stake in shares of UiPath during the fourth quarter valued at approximately $151,000. Focus Partners Advisor Solutions LLC purchased a new position in UiPath during the 4th quarter worth approximately $158,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in UiPath by 39.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,401,993 shares of the company’s stock valued at $17,819,000 after purchasing an additional 397,121 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in shares of UiPath in the fourth quarter valued at $160,000. Finally, Two Sigma Advisers LP boosted its position in shares of UiPath by 29.0% in the fourth quarter. Two Sigma Advisers LP now owns 4,901,000 shares of the company’s stock worth $62,292,000 after buying an additional 1,100,800 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.