UiPath (NYSE:PATH) Given Hold Rating at Needham & Company LLC

UiPath (NYSE:PATH)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports.

PATH has been the subject of several other reports. Evercore ISI lowered their target price on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, March 13th. UBS Group lowered their target price on shares of UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, March 13th. Scotiabank dropped their price target on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 13th. Barclays dropped their price objective on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, Wells Fargo & Company cut their price target on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.62.

UiPath Trading Down 3.2 %

Shares of PATH opened at $10.87 on Wednesday. The company has a market cap of $5.97 billion, a P/E ratio of -67.91 and a beta of 1.00. UiPath has a twelve month low of $9.50 and a twelve month high of $23.04. The company’s fifty day simple moving average is $12.94 and its 200-day simple moving average is $13.04.

Insider Activity

In other news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the sale, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s 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 completion of 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 position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc increased its position in shares of UiPath by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after acquiring an additional 736 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares during the last quarter. Tidal Investments LLC raised its position in shares of UiPath by 3.7% in the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock valued at $286,000 after purchasing an additional 797 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after buying an additional 801 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after buying an additional 804 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Company Profile

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.