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

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

PATH has been the topic of a number of other reports. UBS Group dropped their price target on UiPath from $14.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada cut their target price on UiPath from $16.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 13th. Barclays reduced their price target on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Evercore ISI dropped their price target on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, March 13th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $10.00 target price (down from $18.00) on shares of UiPath in a report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, UiPath presently has an average rating of “Hold” and a consensus price target of $13.62.

UiPath Price Performance

Shares of NYSE PATH opened at $11.34 on Wednesday. The stock has a market cap of $6.23 billion, a P/E ratio of -70.88 and a beta of 1.00. UiPath has a 1 year low of $9.50 and a 1 year high of $23.35. The firm has a 50-day moving average of $13.03 and a 200 day moving average of $13.07.

Insider Activity

In other news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares in the company, valued at $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. Insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Several institutional investors and hedge funds have recently modified their holdings of PATH. Vanguard Group Inc. increased 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 valued at $593,101,000 after acquiring an additional 576,458 shares during the last quarter. Senvest Management LLC grew 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 purchasing an additional 3,180,300 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 493,502 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of UiPath by 45.3% in the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock worth $84,209,000 after buying an additional 2,072,089 shares in the last quarter. Finally, Norges Bank bought a new position in UiPath during the fourth quarter valued at approximately $71,191,000. Institutional investors own 62.50% of the company’s stock.

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.