UiPath (NYSE:PATH) Price Target Raised to $25.00 at Barclays

UiPath (NYSE:PATH) had its target price increased by Barclays from $23.00 to $25.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the healthcare company’s stock.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group increased their price target on UiPath from $27.00 to $30.00 and gave the stock a buy rating in a research report on Friday. JPMorgan Chase & Co. upgraded UiPath from a neutral rating to an overweight rating and increased their price target for the stock from $22.00 to $28.00 in a research report on Thursday. William Blair started coverage on UiPath in a report on Tuesday, January 2nd. They set an outperform rating for the company. Royal Bank of Canada increased their target price on UiPath from $19.00 to $24.00 and gave the company a sector perform rating in a report on Friday, December 1st. Finally, Morgan Stanley increased their target price on UiPath from $16.00 to $17.00 and gave the company an equal weight rating in a 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, the stock has a consensus rating of Hold and an average target price of $27.13.

UiPath Price Performance

PATH stock traded up $0.32 during mid-day trading on Friday, reaching $23.07. 9,842,354 shares of the company’s stock were exchanged, compared to its average volume of 10,074,664. The company has a market cap of $13.06 billion, a price-to-earnings ratio of -135.46 and a beta of 0.97. The stock’s 50 day moving average is $23.52 and its 200 day moving average is $20.70. UiPath has a 12-month low of $12.38 and a 12-month high of $27.87.

Insider Activity

In other news, CFO Ashim Gupta sold 125,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $22.59, for a total transaction of $2,823,750.00. Following the transaction, the chief financial officer now owns 858,148 shares of the company’s stock, valued at approximately $19,385,563.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Ashim Gupta sold 125,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $22.59, for a total transaction of $2,823,750.00. Following the transaction, the chief financial officer now owns 858,148 shares of the company’s stock, valued at approximately $19,385,563.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rich Wong sold 200,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 429,418 shares in the company, valued at approximately $9,928,144.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 411,000 shares of company stock valued at $9,418,670. 31.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UiPath

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of UiPath by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock valued at $946,028,000 after acquiring an additional 334,085 shares during the period. BlackRock Inc. boosted its holdings in shares of UiPath by 32.1% in the second quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock valued at $387,354,000 after acquiring an additional 5,681,577 shares during the period. FMR LLC boosted its holdings in shares of UiPath by 2.9% in the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after acquiring an additional 463,032 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of UiPath by 37.4% in the second quarter. Goldman Sachs Group Inc. now owns 11,662,087 shares of the healthcare company’s stock valued at $193,241,000 after acquiring an additional 3,172,300 shares during the period. Finally, Altimeter Capital Management LP boosted its holdings in shares of UiPath by 175.4% in the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock valued at $71,579,000 after acquiring an additional 5,270,194 shares during the period. 59.04% 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.