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

UiPath (NYSE:PATH)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other brokerages also recently issued reports on PATH. Barclays decreased their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. UBS Group initiated coverage on shares of UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. BMO Capital Markets upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Finally, Morgan Stanley dropped their target price on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UiPath presently has an average rating of “Hold” and an average target price of $16.78.

UiPath Stock Performance

Shares of PATH opened at $11.85 on Thursday. The business’s 50-day moving average is $13.47 and its two-hundred day moving average is $13.18. The company has a market capitalization of $6.51 billion, a P/E ratio of -74.08 and a beta of 1.00. UiPath has a fifty-two week low of $9.64 and a fifty-two week high of $25.47.

Insider Transactions at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the company’s 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 of the company’s stock, valued at $11,186,386.28. This represents a 5.23 % 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

A number of institutional investors have recently bought and sold shares of PATH. Norges Bank acquired a new stake in shares of UiPath during the 4th quarter worth approximately $71,191,000. Jacobs Levy Equity Management Inc. increased its stake in UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after acquiring an additional 3,411,562 shares during the last quarter. Senvest Management LLC raised its position in UiPath by 29.2% in the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock valued at $178,890,000 after purchasing an additional 3,180,300 shares during the period. AQR Capital Management LLC lifted its stake in shares of UiPath by 45.3% in the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock valued at $84,209,000 after purchasing an additional 2,072,089 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of UiPath during the 3rd quarter worth $19,071,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.