UiPath’s (PATH) “Hold” Rating Reiterated at Needham & Company LLC

UiPath (NYSE:PATH)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports.

Several other research analysts have also commented on the stock. BMO Capital Markets raised their price objective on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their price target on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Barclays cut their price objective on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday, December 6th. Finally, UBS Group began coverage on UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, UiPath currently has a consensus rating of “Hold” and a consensus price target of $16.78.

UiPath Trading Up 1.0 %

PATH stock opened at $11.85 on Thursday. The business’s fifty day moving average price is $13.47 and its 200 day moving average price is $13.18. UiPath has a 12-month low of $9.64 and a 12-month high of $25.47. The company has a market capitalization of $6.51 billion, a PE ratio of -74.08 and a beta of 1.00.

Insiders Place Their Bets

In related news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of hedge funds have recently added to or reduced their stakes in PATH. Smartleaf Asset Management LLC raised its stake in shares of UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. increased its stake in UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after buying an additional 804 shares during the period. EverSource Wealth Advisors LLC raised its position in UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after buying an additional 1,742 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after acquiring an additional 759 shares during the period. Finally, Quarry LP boosted its holdings in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after acquiring an additional 2,729 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

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, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.