UiPath (NYSE:PATH) Price Target Raised to $24.00 at DA Davidson

UiPath (NYSE:PATH) had its price target boosted by DA Davidson from $20.00 to $24.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the healthcare company’s stock.

Several other research analysts also recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of UiPath from $27.00 to $30.00 and gave the company a buy rating in a research report on Friday. Wells Fargo & Company boosted their price objective on shares of UiPath from $18.00 to $20.00 and gave the company an equal weight rating in a research report on Friday, December 1st. Needham & Company LLC boosted their price objective on shares of UiPath from $25.00 to $30.00 and gave the company a buy rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on shares of UiPath from $27.00 to $29.00 and gave the company a sector perform rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price objective on shares of UiPath from $24.00 to $28.00 and gave the company a market perform rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $27.13.

UiPath Stock Performance

Shares of NYSE PATH traded up $0.32 during midday trading on Thursday, reaching $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 business’s 50 day moving average price is $23.52 and its two-hundred day moving average price is $20.70. The company has a market cap of $13.06 billion, a P/E ratio of -135.46 and a beta of 0.97.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 16,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $22.47, for a total value of $359,520.00. Following the sale, the chief financial officer now owns 103,505 shares of the company’s stock, valued at $2,325,757.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other UiPath news, Director Rich Wong sold 200,000 shares of the company’s stock in a transaction on 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 sale, the director now owns 429,418 shares of the company’s stock, valued at $9,928,144.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 16,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $22.47, for a total transaction of $359,520.00. Following the sale, the chief financial officer now directly 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 a total of 411,000 shares of company stock valued at $9,418,670 over the last 90 days. 31.03% of the stock is owned by insiders.

Institutional Trading of UiPath

A number of institutional investors have recently bought and sold shares of PATH. Vanguard Group Inc. grew its stake in 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. grew 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 period. FMR LLC boosted its position in shares of UiPath by 2.9% during the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after buying an additional 463,032 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of UiPath by 37.4% during 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 buying an additional 3,172,300 shares during the last quarter. Finally, Altimeter Capital Management LP boosted its position in shares of 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 buying an additional 5,270,194 shares during the last quarter. Institutional investors 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.