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

UiPath (NYSE:PATH)‘s stock had its “hold” rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

PATH has been the topic of a number of other reports. Wells Fargo & Company lowered their price objective on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Morgan Stanley dropped their price objective on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Mizuho dropped their price objective on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. UBS Group dropped their price target on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, March 13th. Finally, Scotiabank dropped their price objective on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Two 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.62.

UiPath Trading Down 3.2 %

NYSE:PATH opened at $10.87 on Wednesday. The stock has a 50-day moving average price of $12.94 and a two-hundred day moving average price of $13.04. UiPath has a 1 year low of $9.50 and a 1 year high of $23.04. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of -67.91 and a beta of 1.00.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction dated Friday, January 3rd. The shares were 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 directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the business’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 transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $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. Corporate insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in UiPath by 88.5% during 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. raised its position in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after acquiring an additional 804 shares during the period. EverSource Wealth Advisors LLC lifted its position 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 position in shares of 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 third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing 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.