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

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

Several other equities analysts have also issued reports on the company. Morgan Stanley boosted their price target on 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 upped their target price on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Barclays decreased their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company dropped their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.44.

UiPath Stock Up 3.7 %

PATH stock opened at $13.31 on Wednesday. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of -83.19 and a beta of 0.96. The company’s fifty day simple moving average is $13.59 and its 200 day simple moving average is $12.78. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87.

Insiders Place Their Bets

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the 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 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. Company insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Cowa LLC grew its position in UiPath by 4.4% during the third quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after buying an additional 1,118 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of UiPath by 6.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock valued at $334,000 after acquiring an additional 1,654 shares during the last quarter. Amalgamated Bank grew its holdings in shares of UiPath by 7.1% during the third quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after purchasing an additional 1,811 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of UiPath by 10.6% in the third quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock worth $267,000 after purchasing an additional 1,995 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in UiPath in the third quarter valued at approximately $26,000. 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.