Royal Bank of Canada Increases UiPath (NYSE:PATH) Price Target to $29.00

UiPath (NYSE:PATH) had its price objective raised by Royal Bank of Canada from $27.00 to $29.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a sector perform rating on the healthcare company’s stock.

Several other brokerages also recently commented on PATH. BMO Capital Markets lifted their target price on shares of UiPath from $24.00 to $28.00 and gave the stock a market perform rating in a report on Thursday. Wells Fargo & Company lifted their target price on shares of UiPath from $18.00 to $20.00 and gave the stock an equal weight rating in a report on Friday, December 1st. Morgan Stanley lifted their target price on shares of UiPath from $17.00 to $25.00 and gave the stock an equal weight rating in a report on Thursday. Barclays lifted their price objective on shares of UiPath from $23.00 to $25.00 and gave the stock an equal weight rating in a research note on Friday. Finally, JPMorgan Chase & Co. upgraded shares of UiPath from a neutral rating to an overweight rating and lifted their price objective for the stock from $22.00 to $28.00 in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, UiPath has an average rating of Hold and a consensus price target of $27.13.

UiPath Stock Performance

Shares of PATH stock traded up $0.32 during midday trading on Thursday, hitting $23.07. 9,842,354 shares of the company were exchanged, compared to its average volume of 10,074,664. The firm has a market capitalization of $13.06 billion, a P/E ratio of -135.46 and a beta of 0.97. The firm’s 50 day moving average price is $23.52 and its two-hundred day moving average price is $20.70. UiPath has a 52 week low of $12.38 and a 52 week high of $27.87.

Insider Activity

In other news, CFO Ashim Gupta sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $22.47, for a total value of $359,520.00. Following the completion of the transaction, the chief financial officer now directly owns 103,505 shares in the company, valued at approximately $2,325,757.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $22.47, for a total transaction of $359,520.00. Following the sale, the chief financial officer now directly owns 103,505 shares of the company’s stock, valued at approximately $2,325,757.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rich Wong sold 200,000 shares of UiPath stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the sale, the director now directly owns 429,418 shares in the company, valued at $9,928,144.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,000 shares of company stock worth $9,418,670. 31.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On UiPath

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC bought a new stake in UiPath during the 4th quarter worth approximately $25,000. HighMark Wealth Management LLC bought a new stake in shares of UiPath in the 4th quarter valued at $27,000. Tyler Stone Wealth Management bought a new stake in shares of UiPath in the 2nd quarter valued at $28,000. Cypress Capital Management LLC WY bought a new stake in shares of UiPath in the 4th quarter valued at $29,000. Finally, Fifth Third Bancorp boosted its stake in shares of UiPath by 2,005.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after purchasing an additional 1,905 shares during the last quarter. 59.04% of the stock is owned by institutional investors.

About UiPath

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.