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

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

A number of other brokerages have also recently commented on PATH. JPMorgan Chase & Co. increased their price target on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Morgan Stanley upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. BMO Capital Markets lifted their target price 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. 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. Finally, Wells Fargo & Company decreased their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, UiPath presently has an average rating of “Hold” and a consensus target price of $17.44.

Get Our Latest Research Report on PATH

UiPath Trading Up 3.7 %

PATH opened at $13.31 on Wednesday. The stock has a market capitalization of $7.32 billion, a P/E ratio of -83.19 and a beta of 0.96. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87. The stock has a 50-day moving average price of $13.59 and a 200-day moving average price of $12.78.

Insider Transactions at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 stock was 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 owns 856,538 shares in the company, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of institutional investors have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board boosted its stake in UiPath by 136.0% during the 3rd 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 last quarter. D.A. Davidson & CO. boosted its position in shares of UiPath by 60.1% during the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after buying an additional 209,300 shares during the last quarter. Stifel Financial Corp increased its holdings in UiPath by 30.1% in the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after buying an additional 74,959 shares in the last quarter. Senvest Management LLC raised its position in UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in UiPath by 667.7% during the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after acquiring an additional 88,468 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

About UiPath

(Get Free Report)

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.

See Also

Analyst Recommendations for UiPath (NYSE:PATH)

Receive News & Ratings for UiPath Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UiPath and related companies with MarketBeat.com's FREE daily email newsletter.