Mizuho Cuts UiPath (NYSE:PATH) Price Target to $11.00

UiPath (NYSE:PATH - Free Report) had its price target decreased by Mizuho from $12.00 to $11.00 in a research note published on Tuesday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on PATH. Wells Fargo & Company dropped their target price on shares of UiPath from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Bank of America reiterated an "underperform" rating and set a $10.00 target price (down from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Morgan Stanley dropped their price target on UiPath from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Canaccord Genuity Group reduced 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. Finally, UBS Group dropped their price objective on shares of UiPath from $14.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $12.72.

UiPath Trading Up 0.6 %

Shares of NYSE:PATH traded up $0.06 during trading on Tuesday, hitting $10.44. 11,973,213 shares of the company were exchanged, compared to its average volume of 10,487,091. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of -65.25 and a beta of 1.04. UiPath has a fifty-two week low of $9.38 and a fifty-two week high of $20.95. The firm has a fifty day moving average price of $11.65 and a two-hundred day moving average price of $12.79.

Insider Activity

In related news, CAO Hitesh Ramani sold 12,500 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were 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 in the company, valued at approximately $3,208,739.29. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 22.37% of the company's stock.

Institutional Investors Weigh In On UiPath

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of UiPath during the 4th quarter valued at $71,191,000. Senvest Management LLC lifted its holdings in UiPath by 29.2% during the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock valued at $178,890,000 after purchasing an additional 3,180,300 shares during the last quarter. AQR Capital Management LLC boosted its position in UiPath by 45.3% during the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after purchasing an additional 2,072,089 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of UiPath by 35.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock worth $69,385,000 after purchasing an additional 1,432,569 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of UiPath by 111.8% in the fourth quarter. Marshall Wace LLP now owns 2,456,102 shares of the company's stock valued at $31,217,000 after purchasing an additional 1,296,382 shares during the period. Hedge funds and other institutional investors 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, 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.