UiPath (NYSE:PATH) Price Target Raised to $17.00

UiPath (NYSE:PATH – Get Rating) had its price target raised by Royal Bank of Canada from $15.00 to $17.00 in a research note released on Thursday, The Fly reports.

A number of other brokerages have also recently commented on PATH. Mizuho increased their price target on shares of UiPath from $15.00 to $16.00 in a research report on Thursday. Canaccord Genuity Group raised UiPath from a hold rating to a buy rating and raised their price objective for the company from $14.50 to $19.00 in a research report on Thursday. Credit Suisse Group reduced their price target on UiPath from $30.00 to $27.50 and set an outperform rating for the company in a report on Wednesday, November 16th. Evercore ISI reduced their price objective on UiPath to $17.00 in a report on Friday, December 2nd. Finally, Barclays lifted their price objective on UiPath from $13.00 to $17.00 and gave the stock an equal weight rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $19.19.

UiPath Price Performance

Shares of UiPath stock opened at $17.05 on Thursday. UiPath has a 12-month low of $10.40 and a 12-month high of $31.88. The company’s 50-day moving average price is $15.06 and its 200-day moving average price is $13.60.

Insider Activity

In related news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $16.61, for a total value of $664,400.00. Following the transaction, the chief financial officer now directly owns 1,359,051 shares of the company’s stock, valued at approximately $22,573,837.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 31.88% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC lifted its holdings in UiPath by 22.6% in the 3rd quarter. ARK Investment Management LLC now owns 46,084,074 shares of the healthcare company’s stock worth $581,120,000 after purchasing an additional 8,488,829 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in UiPath by 21.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,193,046 shares of the healthcare company’s stock worth $368,124,000 after purchasing an additional 5,169,501 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of UiPath by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,463,001 shares of the healthcare company’s stock worth $358,918,000 after acquiring an additional 1,215,702 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in shares of UiPath by 14.5% during the 4th quarter. Alkeon Capital Management LLC now owns 17,717,129 shares of the healthcare company’s stock worth $225,185,000 after acquiring an additional 2,248,055 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of UiPath by 10.1% during the 3rd quarter. BlackRock Inc. now owns 16,521,462 shares of the healthcare company’s stock worth $208,337,000 after acquiring an additional 1,516,484 shares in the last quarter. 56.40% of the stock is owned by hedge funds and other institutional investors.

About UiPath

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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.