Needham & Company LLC Reaffirms Hold Rating for UiPath (NYSE:PATH)

Needham & Company LLC reiterated their hold rating on shares of UiPath (NYSE:PATH) in a research note released on Wednesday morning,Benzinga reports.

Other equities research analysts have also issued research reports about the company. Scotiabank lowered their price objective on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada dropped their price target on shares of UiPath from $16.00 to $13.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Morgan Stanley reduced their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company dropped their target price on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Evercore ISI reduced 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 report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.62.

UiPath Price Performance

NYSE:PATH opened at $11.25 on Wednesday. UiPath has a 1-year low of $9.50 and a 1-year high of $23.04. The stock has a market cap of $6.18 billion, a P/E ratio of -70.28 and a beta of 1.00. The firm has a 50-day moving average of $12.99 and a two-hundred day moving average of $13.06.

Insider Activity

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the company’s 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 sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This 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.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PATH. CIBC Asset Management Inc lifted its position in shares of UiPath by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after purchasing an additional 736 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares during the period. Tidal Investments LLC grew its holdings in shares of UiPath by 3.7% during the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock valued at $286,000 after acquiring an additional 797 shares in the last quarter. True Wealth Design LLC increased its stake in shares of UiPath by 18.4% in the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock worth $66,000 after acquiring an additional 801 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after acquiring an additional 804 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

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.