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Wells Fargo & Company Cuts UiPath (NYSE:PATH) Price Target to $11.00

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UiPath (NYSE:PATH - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $13.00 to $11.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 8.43% from the company's current price.

Several other equities research analysts also recently commented on PATH. Barclays cut their price objective on UiPath from $15.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. UBS Group assumed coverage on UiPath in a research note on Thursday, December 12th. They set a "sell" rating and a $14.00 target price for the company. Finally, Bank of America restated an "underperform" rating and issued a $10.00 price target (down previously from $18.00) on shares of UiPath in a research note on Thursday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $16.39.

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View Our Latest Research Report on PATH

UiPath Stock Down 14.2 %

PATH traded down $1.69 during trading hours on Thursday, hitting $10.15. 19,789,590 shares of the company's stock were exchanged, compared to its average volume of 9,476,847. The stock's 50-day moving average is $13.47 and its two-hundred day moving average is $13.18. UiPath has a 1-year low of $9.37 and a 1-year high of $25.47. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of -63.50 and a beta of 1.00.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the business'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 transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares of the company's stock, valued at $3,515,944.05. The trade was a 8.49 % 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 company insiders.

Institutional Investors Weigh In On UiPath

A number of hedge funds have recently made changes to their positions in PATH. Vanguard Group Inc. lifted its stake in UiPath by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company's stock valued at $593,101,000 after purchasing an additional 576,458 shares during the last quarter. Senvest Management LLC increased its holdings in shares of UiPath by 29.2% during the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock worth $178,890,000 after buying an additional 3,180,300 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company's stock valued at $93,619,000 after acquiring an additional 493,502 shares during the last quarter. AQR Capital Management LLC grew its position in UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after acquiring an additional 2,072,089 shares during the last quarter. Finally, Norges Bank acquired a new position in UiPath in the 4th quarter worth about $71,191,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Company Profile

(Get Free Report)

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.

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Analyst Recommendations for UiPath (NYSE:PATH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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