UiPath (NYSE:PATH) Earns Hold Rating from Needham & Company LLC

UiPath (NYSE:PATH - Get Free Report)'s stock had its "hold" rating restated by equities researchers at Needham & Company LLC in a research report issued on Thursday, Marketbeat Ratings reports.

A number of other research firms have also weighed in on PATH. UBS Group began coverage on UiPath in a research note on Thursday, December 12th. They issued a "sell" rating and a $14.00 target price for the company. BMO Capital Markets boosted their target price on UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Friday, December 6th. Morgan Stanley lowered their price target on UiPath from $16.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price target on UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $14.53.

UiPath Stock Up 8.8 %

Shares of NYSE PATH traded up $0.87 during midday trading on Thursday, reaching $10.84. The company had a trading volume of 26,728,329 shares, compared to its average volume of 9,493,381. UiPath has a one year low of $9.50 and a one year high of $23.97. The firm's fifty day moving average price is $13.36 and its 200-day moving average price is $13.15. The stock has a market cap of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00.

Remove Ads

Insiders Place Their Bets

In related news, 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 sale, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company's stock.

Institutional Trading of UiPath

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in UiPath by 17.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 104,608 shares of the company's stock valued at $1,339,000 after acquiring an additional 15,698 shares in the last quarter. Amalgamated Bank lifted its position in UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company's stock valued at $350,000 after acquiring an additional 1,811 shares in the last quarter. Principal Financial Group Inc. lifted its position in UiPath by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company's stock valued at $470,000 after acquiring an additional 3,477 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in UiPath by 7.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 179,083 shares of the company's stock valued at $2,292,000 after acquiring an additional 11,810 shares in the last quarter. Finally, Versor Investments LP bought a new position in UiPath in the 3rd quarter valued at approximately $266,000. Hedge funds and other 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.