UiPath (NYSE:PATH) Price Target Lowered to $15.00 at Barclays

UiPath (NYSE:PATH - Get Free Report) had its price target decreased by equities researchers at Barclays from $16.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective points to a potential upside of 15.65% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley lifted their price target on UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Royal Bank of Canada reissued a "sector perform" rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. UBS Group started coverage on shares of UiPath in a research note on Thursday, December 12th. They set a "sell" rating and a $14.00 price objective on the stock. Needham & Company LLC restated a "hold" rating on shares of UiPath in a research report on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price objective on shares of UiPath from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, UiPath currently has an average rating of "Hold" and an average price target of $17.44.

UiPath Price Performance

PATH traded down $0.46 on Friday, reaching $12.97. The company's stock had a trading volume of 8,797,115 shares, compared to its average volume of 9,371,608. UiPath has a 1 year low of $10.37 and a 1 year high of $27.87. The business's 50 day moving average is $13.56 and its 200 day moving average is $12.76. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of -81.06 and a beta of 0.96.

Insider Transactions at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now owns 269,421 shares of the company's stock, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UiPath

A number of institutional investors and hedge funds have recently made changes to their positions in PATH. Cowa LLC boosted its stake in UiPath by 4.4% in the third quarter. Cowa LLC now owns 26,681 shares of the company's stock valued at $342,000 after acquiring an additional 1,118 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in UiPath by 6.8% during the third quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company's stock worth $334,000 after purchasing an additional 1,654 shares in the last quarter. Amalgamated Bank grew its stake in UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company's stock valued at $350,000 after acquiring an additional 1,811 shares during the period. Thrivent Financial for Lutherans grew its position in shares of UiPath by 10.6% in the third quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company's stock valued at $267,000 after purchasing an additional 1,995 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of UiPath during the third quarter valued at approximately $26,000. 62.50% of the stock is 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.