UiPath (NYSE:PATH) Given New $28.00 Price Target at BMO Capital Markets

UiPath (NYSE:PATH) had its price objective upped by BMO Capital Markets from $24.00 to $28.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the healthcare company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 21.40% from the stock’s previous close.

Several other analysts have also issued reports on PATH. Morgan Stanley boosted their price objective on shares of UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore ISI lifted their target price on UiPath from $24.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on UiPath from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised UiPath from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $22.00 to $28.00 in a research report on Thursday. Finally, Royal Bank of Canada lifted their target price on UiPath from $19.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, December 1st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, UiPath currently has an average rating of “Hold” and a consensus price target of $27.13.

UiPath Trading Up 1.4 %

PATH traded up $0.32 on Thursday, hitting $23.07. The company had a trading volume of 9,842,354 shares, compared to its average volume of 10,074,664. The firm has a market cap of $13.06 billion, a P/E ratio of -135.46 and a beta of 0.97. UiPath has a 1 year low of $12.38 and a 1 year high of $27.87. The company’s fifty day moving average price is $23.52 and its 200 day moving average price is $20.70.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 125,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $22.59, for a total value of $2,823,750.00. Following the completion of the transaction, the chief financial officer now directly owns 858,148 shares of the company’s stock, valued at $19,385,563.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other UiPath news, CFO Ashim Gupta sold 125,000 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $22.59, for a total value of $2,823,750.00. Following the completion of the sale, the chief financial officer now owns 858,148 shares in the company, valued at $19,385,563.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rich Wong sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $23.12, for a total value of $4,624,000.00. Following the completion of the sale, the director now owns 429,418 shares of the company’s stock, valued at approximately $9,928,144.16. The disclosure for this sale can be found here. Insiders sold 411,000 shares of company stock valued at $9,418,670 over the last three months. 31.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UiPath

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of UiPath by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock worth $946,028,000 after purchasing an additional 334,085 shares during the last quarter. BlackRock Inc. raised its stake in shares of UiPath by 32.1% during the second quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock worth $387,354,000 after purchasing an additional 5,681,577 shares during the last quarter. FMR LLC raised its stake in shares of UiPath by 2.9% during the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock worth $277,835,000 after purchasing an additional 463,032 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in UiPath by 37.4% during the second quarter. Goldman Sachs Group Inc. now owns 11,662,087 shares of the healthcare company’s stock worth $193,241,000 after acquiring an additional 3,172,300 shares during the period. Finally, Altimeter Capital Management LP grew its holdings in UiPath by 175.4% during the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock worth $71,579,000 after acquiring an additional 5,270,194 shares during the period. Hedge funds and other institutional investors own 59.04% of the company’s stock.

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.