UiPath (NYSE:PATH) Price Target Cut to $12.00 by Analysts at Morgan Stanley

UiPath (NYSE:PATH - Get Free Report) had its target price decreased by investment analysts at Morgan Stanley from $16.00 to $12.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential upside of 10.66% from the company's previous close.

Other equities research analysts have also issued research reports about the company. 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. Barclays dropped their target price on UiPath from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $16.00 target price on shares of UiPath 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. Finally, UBS Group started 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. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.53.

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UiPath Stock Up 8.8 %

Shares of PATH traded up $0.87 during mid-day trading on Thursday, hitting $10.84. 26,728,329 shares of the company traded hands, compared to its average volume of 9,474,543. UiPath has a 1-year low of $9.50 and a 1-year high of $23.97. The company has a market capitalization of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00. The business has a 50 day moving average of $13.36 and a 200 day moving average of $13.15.

Insider Activity at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company's stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owns 856,538 shares of the company's stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. 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 and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of UiPath during the 4th quarter worth about $71,191,000. Jacobs Levy Equity Management Inc. increased its position in shares of UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the last quarter. Senvest Management LLC increased its position in shares of UiPath by 29.2% during the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock worth $178,890,000 after purchasing an additional 3,180,300 shares during the last quarter. AQR Capital Management LLC boosted its holdings in UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock valued at $84,209,000 after acquiring an additional 2,072,089 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new position in UiPath during the 3rd quarter valued at about $19,071,000. 62.50% of the stock is owned by institutional investors and hedge funds.

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.