UiPath (NYSE:PATH) Receives Hold Rating from Needham & Company LLC

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

PATH has been the subject of several other research reports. Barclays reduced their price objective on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a research note on Friday, December 6th. UBS Group started coverage on shares of UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price objective 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 investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.53.

UiPath Stock Performance

NYSE:PATH opened at $10.84 on Thursday. UiPath has a one year low of $9.50 and a one year high of $23.97. The firm has a market cap of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00. The firm has a 50-day simple moving average of $13.36 and a 200-day simple moving average of $13.15.

Insider Activity

In related news, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its holdings in UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after purchasing an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in UiPath by 47.8% during 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 in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in UiPath by 141.4% during 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 in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after buying an additional 759 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $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.

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.