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

Needham & Company LLC reiterated their hold rating on shares of UiPath (NYSE:PATH) in a research note published on Thursday, MarketBeat Ratings reports.

Several other research firms have also recently commented on PATH. UBS Group started coverage on shares of UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective on the stock. BMO Capital Markets boosted their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Morgan Stanley cut their target price on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.53.

UiPath Stock Performance

Shares of PATH stock opened at $10.84 on Thursday. The company has a market capitalization of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00. UiPath has a 52 week low of $9.50 and a 52 week high of $23.97. The company’s 50 day moving average price is $13.36 and its two-hundred day moving average price is $13.15.

Insider Activity

In other UiPath news, 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 completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the company’s 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 transaction, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents 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 owned by insiders.

Institutional Trading of UiPath

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its holdings in UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after acquiring an additional 1,152 shares during the period. First Horizon Advisors Inc. grew its position in shares of UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after purchasing an additional 804 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,742 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares during the period. 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 worth $40,000 after purchasing an additional 2,729 shares during the last quarter. Institutional investors own 62.50% 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, 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.