Morgan Stanley Cuts UiPath (NYSE:PATH) Price Target to $12.00

UiPath (NYSE:PATH - Get Free Report) had its target price reduced by stock analysts at Morgan Stanley from $16.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 10.66% from the stock's current price.

A number of other research firms also recently weighed in on PATH. JPMorgan Chase & Co. upped their target price on UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a research report on Wednesday, January 15th. BMO Capital Markets upped their target price on UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Friday, December 6th. Barclays cut their target price on 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, UBS Group began coverage on UiPath in a research report on Thursday, December 12th. They set a "sell" rating and a $14.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, UiPath presently has an average rating of "Hold" and an average target price of $14.53.

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UiPath Price Performance

NYSE PATH traded up $0.87 on Thursday, reaching $10.84. The stock had a trading volume of 26,728,329 shares, compared to its average volume of 9,493,381. The firm has a fifty day moving average of $13.36 and a two-hundred day moving average of $13.15. UiPath has a 1-year low of $9.50 and a 1-year high of $23.97. The company has a market cap of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling at UiPath

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

Institutional Investors Weigh In On UiPath

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake in shares of UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock valued at $31,000 after buying an additional 1,152 shares during the period. First Horizon Advisors Inc. increased its stake in shares of UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after buying an additional 804 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock valued at $38,000 after buying an additional 1,742 shares during the period. V Square Quantitative Management LLC increased its stake in shares of UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock valued at $39,000 after buying an additional 759 shares during the period. Finally, Quarry LP increased its stake in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company's stock valued at $40,000 after buying an additional 2,729 shares during the period. 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, 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.