UiPath’s (PATH) “Hold” Rating Reaffirmed at Needham & Company LLC

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

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. UBS Group initiated coverage on shares of UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. 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. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.44.

UiPath Stock Performance

Shares of NYSE:PATH opened at $13.39 on Wednesday. The company has a market capitalization of $7.36 billion, a P/E ratio of -83.66 and a beta of 0.96. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The company’s 50-day moving average is $13.59 and its 200 day moving average is $12.78.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 269,421 shares in the company, valued at $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. 22.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cowa LLC grew its position in UiPath by 4.4% during the third quarter. Cowa LLC now owns 26,681 shares of the company’s stock valued at $342,000 after acquiring an additional 1,118 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its position in UiPath by 6.8% during the third quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock valued at $334,000 after acquiring an additional 1,654 shares during the last quarter. Amalgamated Bank grew its position in UiPath by 7.1% during the third quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock valued at $350,000 after acquiring an additional 1,811 shares during the last quarter. Thrivent Financial for Lutherans grew its position in UiPath by 10.6% during the third quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock valued at $267,000 after acquiring an additional 1,995 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of UiPath during the third quarter valued at approximately $26,000. 62.50% of the stock is currently 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.