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

Needham & Company LLC reissued their hold rating on shares of UiPath (NYSE:PATH) in a research note released on Wednesday,Benzinga reports.

Several other research firms have also recently weighed in on PATH. BMO Capital Markets cut their price target on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a report on Friday, March 14th. Canaccord Genuity Group cut their target price on shares of UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Mizuho decreased their price target on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Bank of America reaffirmed an “underperform” rating and set a $10.00 price objective (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. increased their target price on 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 assigned a buy rating to the company’s stock. According to MarketBeat, UiPath currently has an average rating of “Hold” and a consensus target price of $13.62.

UiPath Stock Performance

NYSE PATH opened at $10.69 on Wednesday. The stock has a market cap of $5.87 billion, a P/E ratio of -66.78 and a beta of 1.00. UiPath has a fifty-two week low of $9.50 and a fifty-two week high of $22.83. The stock has a 50 day simple moving average of $12.89 and a two-hundred day simple moving average of $13.03.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashim Gupta sold 47,227 shares of the company’s 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On UiPath

Hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc grew its stake in shares of UiPath by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after acquiring an additional 736 shares during the period. V Square Quantitative Management LLC boosted its holdings in 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 purchasing an additional 759 shares during the last quarter. Tidal Investments LLC raised its stake in UiPath by 3.7% during the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock valued at $286,000 after buying an additional 797 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after buying an additional 801 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in 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 acquiring an additional 804 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.