Needham & Company LLC restated their hold rating on shares of UiPath (NYSE:PATH - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports.
Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of UiPath from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 23rd. Barclays decreased their target price on shares of UiPath from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Friday, January 10th. Royal Bank of Canada restated a "sector perform" rating and set a $16.00 price target on shares of UiPath in a report on Friday, December 6th. BMO Capital Markets upped their price objective on UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their target price on UiPath from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, UiPath presently has an average rating of "Hold" and an average price target of $17.44.
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UiPath Price Performance
UiPath stock traded up $0.11 during trading on Wednesday, reaching $13.39. 6,776,107 shares of the company were exchanged, compared to its average volume of 8,603,980. The stock's 50 day simple moving average is $13.59 and its two-hundred day simple moving average is $12.78. The company has a market capitalization of $7.36 billion, a P/E ratio of -83.69 and a beta of 0.96. UiPath has a 52-week low of $10.37 and a 52-week high of $27.87.
Insider Activity at UiPath
In related news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares in the company, 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. Company insiders own 22.37% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in PATH. Future Financial Wealth Managment LLC acquired a new stake in shares of UiPath in the 3rd quarter valued at $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in UiPath in the third quarter valued at $26,000. Quarry LP raised its stake in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company's stock valued at $40,000 after buying an additional 2,729 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company's stock worth $52,000 after buying an additional 2,274 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in shares of UiPath by 21,710.0% during the 3rd quarter. True Wealth Design LLC now owns 4,362 shares of the company's stock worth $56,000 after acquiring an additional 4,342 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.
UiPath Company Profile
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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.
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