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

Needham & Company LLC reaffirmed their hold rating on shares of UiPath (NYSE:PATH - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports.

Other equities research analysts also recently issued reports about the company. Morgan Stanley increased their price target on UiPath from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. BMO Capital Markets increased their target price on UiPath from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Friday, December 6th. Royal Bank of Canada restated a "sector perform" rating and set a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Wells Fargo & Company reduced their price target on shares of UiPath from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. Finally, Barclays dropped their price objective 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. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $17.44.

UiPath Stock Up 0.1 %

Shares of PATH traded up $0.02 during trading hours on Wednesday, reaching $13.39. The stock had a trading volume of 8,199,843 shares, compared to its average volume of 8,583,233. The company has a market cap of $7.36 billion, a P/E ratio of -83.66 and a beta of 0.96. UiPath has a 52 week low of $10.37 and a 52 week high of $27.87. The firm has a 50-day moving average of $13.59 and a 200 day moving average of $12.78.

Insider Activity at UiPath

In other 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 value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company's stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the business's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the transaction, the chief accounting officer now owns 269,421 shares in the company, 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. Insiders own 22.37% of the company's stock.

Institutional Investors Weigh In On UiPath

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ontario Teachers Pension Plan Board increased its position in UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company's stock worth $1,392,000 after buying an additional 62,650 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of UiPath by 60.1% during the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company's stock worth $7,138,000 after acquiring an additional 209,300 shares during the period. Stifel Financial Corp increased its holdings in shares of UiPath by 30.1% during the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company's stock worth $4,145,000 after acquiring an additional 74,959 shares during the last quarter. Senvest Management LLC raised its stake in UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company's stock valued at $139,449,000 after acquiring an additional 1,559,500 shares during the period. Finally, Quantbot Technologies LP raised its stake in UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company's stock valued at $1,302,000 after acquiring an additional 88,468 shares during the period. 62.50% of the stock is owned by institutional investors.

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.