Needham & Company LLC Reaffirms Buy Rating for UiPath (NYSE:PATH)

Needham & Company LLC reiterated their buy rating on shares of UiPath (NYSE:PATH – Get Rating) in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a $20.00 price target on the healthcare company’s stock.

PATH has been the topic of a number of other reports. Royal Bank of Canada raised their price objective on shares of UiPath from $15.00 to $17.00 in a research note on Thursday. Canaccord Genuity Group upgraded shares of UiPath from a hold rating to a buy rating and raised their price objective for the stock from $14.50 to $19.00 in a report on Thursday. Wells Fargo & Company raised their price objective on shares of UiPath from $16.00 to $18.00 and gave the stock an overweight rating in a report on Friday, December 2nd. Evercore ISI reduced their target price on shares of UiPath to $17.00 in a research note on Friday, December 2nd. Finally, Truist Financial reduced their target price on shares of UiPath from $25.00 to $20.00 and set a buy rating for the company in a research note on Friday, December 2nd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $19.19.

UiPath Stock Down 1.0 %

Shares of NYSE PATH opened at $17.05 on Thursday. The firm has a market cap of $9.43 billion, a PE ratio of -28.42 and a beta of 0.60. UiPath has a 12-month low of $10.40 and a 12-month high of $31.88. The company’s fifty day simple moving average is $15.06 and its 200 day simple moving average is $13.60.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $16.61, for a total transaction of $664,400.00. Following the sale, the chief financial officer now owns 1,359,051 shares in the company, valued at approximately $22,573,837.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 31.88% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently bought and sold shares of PATH. Alphabet Inc. purchased a new stake in shares of UiPath during the 3rd quarter valued at about $177,406,000. ARK Investment Management LLC grew its holdings in UiPath by 22.6% during the 3rd quarter. ARK Investment Management LLC now owns 46,084,074 shares of the healthcare company’s stock valued at $581,120,000 after buying an additional 8,488,829 shares in the last quarter. Altimeter Capital Management LP grew its holdings in UiPath by 175.4% during the 1st quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock valued at $71,579,000 after buying an additional 5,270,194 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in UiPath by 21.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,193,046 shares of the healthcare company’s stock valued at $368,124,000 after buying an additional 5,169,501 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in UiPath by 899.5% during the 4th quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company’s stock valued at $51,475,000 after buying an additional 3,644,799 shares in the last quarter. Institutional investors own 56.40% of the company’s stock.

About UiPath

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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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.