ARK Investment Management LLC Cuts Position in UiPath Inc. (NYSE:PATH)

ARK Investment Management LLC decreased its position in shares of UiPath Inc. (NYSE:PATH - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,602,729 shares of the company's stock after selling 1,347,073 shares during the quarter. UiPath makes up approximately 2.1% of ARK Investment Management LLC's portfolio, making the stock its 14th biggest position. ARK Investment Management LLC owned 3.57% of UiPath worth $249,151,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Amalgamated Bank boosted its holdings in shares of UiPath by 3.1% during the 4th quarter. Amalgamated Bank now owns 28,148 shares of the company's stock valued at $358,000 after acquiring an additional 836 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in UiPath by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company's stock worth $30,984,000 after buying an additional 66,100 shares during the period. First Horizon Advisors Inc. lifted its holdings in UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock worth $32,000 after buying an additional 804 shares during the period. Cowa LLC lifted its holdings in UiPath by 21.2% during the 4th quarter. Cowa LLC now owns 32,330 shares of the company's stock worth $411,000 after buying an additional 5,649 shares during the period. Finally, ING Groep NV acquired a new position in UiPath during the 4th quarter worth about $3,120,000. Institutional investors and hedge funds own 62.50% of the company's stock.

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Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. 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 UiPath stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, 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 disclosure for this sale can be found here. Company insiders own 22.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BMO Capital Markets lifted their target price on UiPath from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. Morgan Stanley lifted 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. Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a report on Wednesday, January 15th. Barclays cut their target price on UiPath from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $16.00 price objective on shares of UiPath in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.44.

UiPath Trading Down 0.0 %

UiPath stock traded down $0.01 during midday trading on Friday, reaching $12.30. The stock had a trading volume of 8,227,848 shares, compared to its average volume of 8,527,637. The company has a market capitalization of $6.76 billion, a P/E ratio of -76.84 and a beta of 0.98. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $25.47. The company has a fifty day moving average price of $13.63 and a two-hundred day moving average price of $13.17.

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.