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

UiPath (NYSE:PATH) 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.

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

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.