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

Needham & Company LLC restated their hold rating on shares of UiPath (NYSE:PATH) in a report released on Thursday morning, Marketbeat Ratings reports.

A number of other brokerages also recently issued reports on PATH. JPMorgan Chase & Co. increased their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. BMO Capital Markets raised their price target on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. UBS Group began coverage on UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target for the company. 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. Finally, Barclays dropped their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.53.

UiPath Stock Up 8.8 %

Shares of NYSE:PATH opened at $10.84 on Thursday. UiPath has a 12-month low of $9.50 and a 12-month high of $23.97. The company’s 50 day moving average price is $13.36 and its two-hundred day moving average price is $13.15. The firm has a market cap of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were 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 of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Several institutional investors and hedge funds have recently made changes to their positions in PATH. Norges Bank acquired a new position in shares of UiPath in the fourth quarter worth approximately $71,191,000. Jacobs Levy Equity Management Inc. lifted its position in shares of UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the period. Senvest Management LLC boosted its stake in shares of UiPath by 29.2% in the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock valued at $178,890,000 after purchasing an additional 3,180,300 shares during the last quarter. AQR Capital Management LLC increased its position in shares of UiPath by 45.3% during the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock worth $84,209,000 after buying an additional 2,072,089 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in UiPath during the third quarter worth $19,071,000. Institutional investors and hedge funds 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.