UiPath (NYSE:PATH) PT Raised to $29.00 at Royal Bank of Canada

UiPath (NYSE:PATH) had its price objective raised by analysts at Royal Bank of Canada from $27.00 to $29.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the healthcare company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 25.73% from the company’s previous close.

Several other analysts also recently weighed in on PATH. Evercore ISI increased their target price on UiPath from $24.00 to $27.00 and gave the company an “in-line” rating in a research note on Thursday. Canaccord Genuity Group raised their price objective on UiPath from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets raised their price objective on UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday. Morgan Stanley raised their price objective on UiPath from $17.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Needham & Company LLC raised their price objective on UiPath from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.13.

UiPath Trading Up 1.4 %

NYSE:PATH traded up $0.32 during mid-day trading on Thursday, hitting $23.07. 9,842,354 shares of the company’s stock traded hands, compared to its average volume of 10,074,664. The firm has a 50 day moving average of $23.52 and a two-hundred day moving average of $20.70. UiPath has a 12 month low of $12.38 and a 12 month high of $27.87. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of -135.46 and a beta of 0.97.

Insider Activity at UiPath

In related news, Director Rich Wong sold 200,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the completion of the sale, the director now directly owns 429,418 shares of the company’s stock, valued at approximately $9,928,144.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other UiPath news, Director Rich Wong sold 200,000 shares of the stock in a transaction 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 directly owns 429,418 shares in the company, valued at approximately $9,928,144.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ashim Gupta sold 70,000 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $23.02, for a total value of $1,611,400.00. Following the completion of the transaction, the chief financial officer now owns 788,148 shares in the company, valued at $18,143,166.96. The disclosure for this sale can be found here. Insiders sold 411,000 shares of company stock valued at $9,418,670 in the last three months. Corporate insiders own 31.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC bought a new position in UiPath in the 4th quarter valued at $25,000. HighMark Wealth Management LLC bought a new position in UiPath in the 4th quarter valued at $27,000. Cypress Capital Management LLC WY bought a new position in shares of UiPath in the 4th quarter worth $29,000. GAMMA Investing LLC bought a new position in shares of UiPath in the 4th quarter worth $36,000. Finally, Mango Five Family Inc. bought a new position in shares of UiPath in the 4th quarter worth $40,000. 59.04% of the stock is currently owned by 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.