Canaccord Genuity Group Boosts UiPath (NYSE:PATH) Price Target to $30.00

UiPath (NYSE:PATH) had its target price boosted by Canaccord Genuity Group from $27.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the healthcare company’s stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company lifted their price target on UiPath from $18.00 to $20.00 and gave the company an equal weight rating in a research report on Friday, December 1st. Morgan Stanley lifted their price target on UiPath from $16.00 to $17.00 and gave the company an equal weight rating in a research report on Friday, December 1st. Scotiabank initiated coverage on UiPath in a research report on Wednesday, February 21st. They set a sector perform rating on the stock. Barclays lifted their price target on UiPath from $21.00 to $23.00 and gave the company an equal weight rating in a research report on Friday, January 12th. Finally, JPMorgan Chase & Co. upgraded UiPath from a neutral rating to an overweight rating and lifted their price target for the company from $22.00 to $28.00 in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $27.13.

UiPath Trading Up 1.4 %

PATH traded up $0.32 during trading hours 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. UiPath has a fifty-two week low of $12.38 and a fifty-two week high of $27.87. The firm has a market capitalization of $13.06 billion, a PE ratio of -135.46 and a beta of 0.97. The company has a 50-day simple moving average of $23.52 and a 200 day simple moving average of $20.70.

Insider Activity

In other news, CFO Ashim Gupta sold 16,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $22.47, for a total value of $359,520.00. Following the transaction, the chief financial officer now 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 the SEC website. In related 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was 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 owns 103,505 shares in the company, valued at approximately $2,325,757.35. The disclosure for this sale can be found here. Insiders have sold 411,000 shares of company stock worth $9,418,670 in the last 90 days. Company insiders own 31.03% of the company’s stock.

Hedge Funds Weigh In On UiPath

Hedge funds have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC acquired a new position in UiPath during the fourth quarter valued at approximately $25,000. HighMark Wealth Management LLC acquired a new position in UiPath during the fourth quarter valued at approximately $27,000. Tyler Stone Wealth Management acquired a new position in UiPath during the second quarter valued at approximately $28,000. Cypress Capital Management LLC WY acquired a new position in UiPath during the fourth quarter valued at approximately $29,000. Finally, Fifth Third Bancorp grew its holdings in UiPath by 2,005.3% during the third 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. Institutional investors and hedge funds 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.