UiPath (NYSE:PATH) PT Raised to $25.00

UiPath (NYSE:PATH) had its target price boosted by research analysts at Barclays from $23.00 to $25.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the healthcare company’s stock. Barclays‘s target price would indicate a potential upside of 8.39% from the company’s previous close.

Several other brokerages have also recently issued reports on PATH. Needham & Company LLC boosted their price target on UiPath from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their target price on UiPath from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, December 1st. William Blair initiated coverage on UiPath in a research report on Tuesday, January 2nd. They issued an “outperform” rating on the stock. Scotiabank assumed coverage on shares of UiPath in a research note on Wednesday, February 21st. They set a “sector perform” rating on the stock. Finally, JPMorgan Chase & Co. raised shares of UiPath from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $22.00 to $28.00 in a report on Thursday. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, UiPath has an average rating of “Hold” and a consensus target price of $27.13.

UiPath Price Performance

UiPath stock traded up $0.32 during midday trading on Friday, hitting $23.07. The company’s stock had a trading volume of 9,842,354 shares, 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. UiPath has a 1-year low of $12.38 and a 1-year high of $27.87. The company has a 50-day moving average price of $23.52 and a two-hundred day moving average price of $20.70.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 125,000 shares of UiPath 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 directly owns 858,148 shares in the company, valued at $19,385,563.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other UiPath news, Director Rich Wong sold 200,000 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $23.12, for a total value of $4,624,000.00. Following the transaction, the director now owns 429,418 shares in the company, valued at $9,928,144.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 125,000 shares of UiPath stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 858,148 shares of the company’s stock, valued at approximately $19,385,563.32. The disclosure for this sale can be found here. Insiders have sold a total of 411,000 shares of company stock worth $9,418,670 in the last 90 days. Corporate insiders own 31.03% of the company’s stock.

Institutional Investors Weigh In On UiPath

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in UiPath in the fourth quarter worth $165,749,000. BlackRock Inc. boosted its stake in 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 last quarter. 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 valued at $71,579,000 after purchasing an additional 5,270,194 shares during the period. Senvest Management LLC lifted its position in shares of UiPath by 188.4% during the 2nd quarter. Senvest Management LLC now owns 6,027,933 shares of the healthcare company’s stock valued at $99,883,000 after buying an additional 3,937,951 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in UiPath by 899.5% in the 4th quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company’s stock worth $51,475,000 after acquiring an additional 3,644,799 shares during the last quarter. Institutional investors and hedge funds own 59.04% of the company’s stock.

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.