UiPath's (PATH) "Sector Perform" Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of UiPath (NYSE:PATH - Free Report) in a research report sent to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $13.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on the company. Evercore ISI lowered their price objective on UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a research report on Thursday, March 13th. BMO Capital Markets dropped their price target on UiPath from $16.00 to $11.50 and set a "market perform" rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group decreased their price objective on shares of UiPath from $19.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price target 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. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.62.

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UiPath Trading Down 1.7 %

Shares of UiPath stock traded down $0.19 on Wednesday, reaching $10.69. The stock had a trading volume of 8,158,831 shares, compared to its average volume of 9,825,224. The business's 50 day moving average is $12.89 and its two-hundred day moving average is $13.04. The company has a market cap of $5.87 billion, a P/E ratio of -66.78 and a beta of 1.00. UiPath has a 1 year low of $9.50 and a 1 year high of $22.83.

Insider Activity at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade 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 this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction 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 $11,186,386.28. This trade 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 currently owned by corporate insiders.

Hedge Funds Weigh In On UiPath

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of UiPath in the fourth quarter worth $71,191,000. Jacobs Levy Equity Management Inc. raised its position in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock worth $51,539,000 after buying an additional 3,411,562 shares during the last quarter. Senvest Management LLC lifted its stake in UiPath by 29.2% during the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock valued at $178,890,000 after acquiring an additional 3,180,300 shares during the period. AQR Capital Management LLC boosted its holdings in shares of 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 last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of UiPath in the third quarter worth approximately $19,071,000. 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.