UiPath (NYSE:PATH) Given "Sector Perform" Rating at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of UiPath (NYSE:PATH - Free Report) in a research note published on Monday, Benzinga reports. Royal Bank of Canada currently has a $29.00 price target on the healthcare company's stock.

A number of other research firms also recently weighed in on PATH. DA Davidson boosted their target price on UiPath from $20.00 to $24.00 and gave the stock a neutral rating in a research report on Thursday, March 14th. Barclays boosted their price objective on UiPath from $23.00 to $25.00 and gave the company an equal weight rating in a research report on Friday, March 15th. Wells Fargo & Company boosted their price objective on UiPath from $24.00 to $25.00 and gave the company an equal weight rating in a research report on Thursday, March 14th. Scotiabank boosted their price objective on UiPath from $29.00 to $30.00 and gave the company a sector perform rating in a research report on Thursday, March 14th. Finally, Canaccord Genuity Group upped their price target on UiPath from $27.00 to $30.00 and gave the company a buy rating in a report on Friday, March 15th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $27.44.

UiPath Price Performance

PATH stock traded down $0.48 during mid-day trading on Monday, reaching $22.19. 5,581,512 shares of the company traded hands, compared to its average volume of 9,502,008. The company has a market capitalization of $12.56 billion, a P/E ratio of -130.52 and a beta of 0.96. UiPath has a 52-week low of $12.38 and a 52-week high of $27.87. The company has a fifty day moving average price of $23.63 and a 200-day moving average price of $21.14.

Insider Activity

In other news, Director Rich Wong sold 200,000 shares of the firm's stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $23.12, for a total value of $4,624,000.00. Following the completion of the sale, the director now directly owns 429,418 shares of the company's stock, valued at approximately $9,928,144.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ashim Gupta sold 70,000 shares of the business's stock in a transaction on Monday, January 8th. The stock was sold at an average price of $23.02, for a total transaction of $1,611,400.00. Following the transaction, the chief financial officer now directly owns 788,148 shares in the company, valued at approximately $18,143,166.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rich Wong sold 200,000 shares of the business's stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $23.12, for a total value of $4,624,000.00. Following the completion of the transaction, the director now directly owns 429,418 shares of the company's stock, valued at approximately $9,928,144.16. The disclosure for this sale can be found here. Insiders sold 427,000 shares of company stock valued at $9,784,110 in the last ninety days. Insiders own 31.03% of the company's stock.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently modified their holdings of PATH. Raymond James Financial Services Advisors Inc. grew its position in shares of UiPath by 3.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company's stock valued at $885,000 after purchasing an additional 1,506 shares in the last quarter. MetLife Investment Management LLC purchased a new position in UiPath in the first quarter worth approximately $184,000. BlackRock Inc. grew its position in UiPath by 1.9% in the first quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company's stock worth $114,786,000 after acquiring an additional 99,242 shares during the period. Dimensional Fund Advisors LP purchased a new position in UiPath in the first quarter worth approximately $534,000. Finally, Canada Pension Plan Investment Board purchased a new position in UiPath in the first quarter worth approximately $259,000. Institutional investors and hedge funds 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.