Needham & Company LLC Reaffirms Hold Rating for UiPath (NYSE:PATH)

UiPath (NYSE:PATH)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Thursday, MarketBeat Ratings reports.

Several other research analysts also recently weighed in on PATH. UBS Group assumed coverage on shares of UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. BMO Capital Markets increased their price target on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Morgan Stanley decreased their price target on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, UiPath currently has a consensus rating of “Hold” and a consensus target price of $14.53.

UiPath Trading Up 8.8 %

Shares of PATH stock opened at $10.84 on Thursday. UiPath has a 12-month low of $9.50 and a 12-month high of $23.97. The firm’s 50 day moving average is $13.36 and its 200 day moving average is $13.15. The stock has a market capitalization of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the sale, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UiPath

A number of large investors have recently made changes to their positions in PATH. Smartleaf Asset Management LLC boosted its stake in shares of UiPath by 88.5% during the 4th 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 period. First Horizon Advisors Inc. lifted its holdings in UiPath by 47.8% during 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 in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after buying an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares in the last quarter. Finally, Quarry LP lifted its holdings in UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after buying an additional 2,729 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other 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, 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.