UiPath Inc. (NYSE:PATH) Receives Average Recommendation of “Hold” from Analysts

Shares of UiPath Inc. (NYSE:PATH) have been given an average recommendation of “Hold” by the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $17.50.

A number of research firms have commented on PATH. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. UBS Group began coverage on shares of UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. BMO Capital Markets boosted 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. Morgan Stanley raised their price target on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Barclays boosted their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th.

Insider Activity at UiPath

In other UiPath news, 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 transaction of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % 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 Trading of UiPath

A number of institutional investors and hedge funds have recently modified their holdings of PATH. Future Financial Wealth Managment LLC acquired a new stake in UiPath in the 3rd quarter worth about $26,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of UiPath in the third quarter worth approximately $26,000. Quarry LP increased its position in shares of UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in UiPath in the 2nd quarter valued at $43,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after purchasing an additional 2,274 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Trading Up 1.7 %

Shares of PATH stock opened at $13.43 on Thursday. The company has a market cap of $7.38 billion, a PE ratio of -83.94 and a beta of 0.96. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87. The business’s fifty day simple moving average is $13.53 and its 200-day simple moving average is $12.75.

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.