UiPath (NYSE:PATH) Given “Hold” Rating at Needham & Company LLC

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

PATH has been the topic of several other research reports. Mizuho decreased their price target on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Canaccord Genuity Group lowered their price target on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Evercore ISI cut their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, March 13th. Wells Fargo & Company lowered their target price on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, BMO Capital Markets cut their price target on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, UiPath presently has a consensus rating of “Hold” and an average target price of $13.62.

UiPath Trading Up 1.2 %

Shares of NYSE:PATH opened at $11.34 on Wednesday. UiPath has a 12 month low of $9.50 and a 12 month high of $23.35. The stock has a market cap of $6.23 billion, a P/E ratio of -70.88 and a beta of 1.00. The company has a 50 day moving average of $13.03 and a 200 day moving average of $13.07.

Insider Activity

In related news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, 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. Insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of hedge funds and other institutional investors have recently made changes to their positions in PATH. Vanguard Group Inc. raised its holdings in UiPath by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock worth $593,101,000 after purchasing an additional 576,458 shares in the last quarter. Senvest Management LLC increased its position in shares of UiPath by 29.2% during the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock valued at $178,890,000 after buying an additional 3,180,300 shares during the period. Geode Capital Management LLC raised its stake in UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after buying an additional 493,502 shares in the last quarter. AQR Capital Management LLC boosted its position in UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock valued at $84,209,000 after acquiring an additional 2,072,089 shares in the last quarter. Finally, Norges Bank bought a new stake in UiPath during the 4th quarter valued at approximately $71,191,000. 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.