ING Groep NV Purchases New Position in UiPath Inc. (NYSE:PATH)

ING Groep NV acquired a new stake in shares of UiPath Inc. (NYSE:PATH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 245,500 shares of the company's stock, valued at approximately $3,120,000.

Other large investors also recently bought and sold shares of the company. Creative Planning grew its position in shares of UiPath by 21.0% in the third quarter. Creative Planning now owns 59,019 shares of the company's stock valued at $744,000 after purchasing an additional 10,258 shares during the period. Raymond James & Associates boosted its holdings in UiPath by 4.3% in the 3rd quarter. Raymond James & Associates now owns 240,145 shares of the company's stock worth $3,074,000 after buying an additional 9,814 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company's stock worth $52,000 after buying an additional 2,274 shares in the last quarter. International Assets Investment Management LLC increased its stake in UiPath by 1,103.9% during the 3rd quarter. International Assets Investment Management LLC now owns 91,072 shares of the company's stock worth $1,166,000 after buying an additional 83,507 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of UiPath by 314.6% during the third quarter. Assenagon Asset Management S.A. now owns 679,651 shares of the company's stock valued at $8,700,000 after acquiring an additional 515,728 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

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UiPath Stock Up 0.8 %

NYSE:PATH traded up $0.10 on Wednesday, reaching $12.73. 6,396,471 shares of the company's stock were exchanged, compared to its average volume of 8,552,592. The business has a fifty day moving average of $13.66 and a 200-day moving average of $13.18. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $25.47. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of -79.53 and a beta of 0.98.

Insider Buying and Selling

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was 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. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the business's stock in a transaction dated 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. 22.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PATH. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada restated a "sector perform" rating and set a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a report on Wednesday, January 15th. Morgan Stanley boosted their target price on UiPath from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Finally, BMO Capital Markets upped their price target on UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.44.

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.