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 Wednesday,Benzinga reports.

Several other brokerages also recently issued reports on PATH. BMO Capital Markets lifted their price objective on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Morgan Stanley increased their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note 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 research report on Friday, December 6th. Finally, Barclays reduced their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.44.

UiPath Trading Down 2.4 %

Shares of PATH opened at $13.02 on Wednesday. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87. The stock has a market cap of $7.16 billion, a P/E ratio of -81.40 and a beta of 0.96. The company has a 50-day moving average of $13.59 and a two-hundred day moving average of $12.79.

Insider Activity

In related news, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 269,421 shares of the company’s stock, 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. Corporate insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently made changes to their positions in PATH. Ontario Teachers Pension Plan Board raised its position in UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after purchasing an additional 62,650 shares during the period. D.A. Davidson & CO. boosted its position in shares of UiPath by 60.1% in the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after buying an additional 209,300 shares during the period. Stifel Financial Corp grew its stake in shares of UiPath by 30.1% in the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after buying an additional 74,959 shares in the last quarter. Senvest Management LLC raised its holdings in shares of UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares during the period. Finally, Quantbot Technologies LP lifted its position in UiPath by 667.7% during the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after acquiring an additional 88,468 shares in the last quarter. Hedge funds and other 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.