Brokerages Set UiPath Inc. (NYSE:PATH) Price Target at $12.72

Shares of UiPath Inc. (NYSE:PATH - Get Free Report) have received an average recommendation of "Hold" from the nineteen analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $12.72.

A number of analysts have commented on PATH shares. Scotiabank reduced their target price on UiPath from $15.00 to $12.00 and set a "sector perform" rating for the company in a report on Thursday, March 13th. Bank of America reissued an "underperform" rating and issued a $10.00 target price (down previously from $18.00) on shares of UiPath in a report on Thursday, March 13th. Mizuho cut their price objective on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Canaccord Genuity Group cut their price objective on UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Finally, BMO Capital Markets cut their price objective on UiPath from $16.00 to $11.50 and set a "market perform" rating for the company in a report on Friday, March 14th.

UiPath Stock Down 1.2%

Shares of UiPath stock traded down $0.16 on Wednesday, reaching $12.92. The company's stock had a trading volume of 8,859,002 shares, compared to its average volume of 10,806,880. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of -80.72 and a beta of 1.01. The firm's fifty day simple moving average is $11.19 and its two-hundred day simple moving average is $12.71. UiPath has a 52 week low of $9.38 and a 52 week high of $20.59.

Insider Activity at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total value of $127,375.00. Following the transaction, the chief accounting officer now directly owns 314,891 shares in the company, valued at $3,208,739.29. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the business's 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. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On UiPath

Large investors have recently made changes to their positions in the business. Jackson Creek Investment Advisors LLC purchased a new position in shares of UiPath in the fourth quarter valued at about $298,000. ING Groep NV purchased a new stake in shares of UiPath in the fourth quarter worth about $3,120,000. Pacer Advisors Inc. lifted its position 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 buying an additional 253,203 shares in the last quarter. Savant Capital LLC lifted its position 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 buying an additional 187,161 shares in the last quarter. Finally, Washington Capital Management Inc. purchased a new stake in shares of UiPath in the fourth quarter worth about $432,000. 62.50% of the stock is currently 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.