Assenagon Asset Management S.A. Sells 26,874 Shares of UiPath Inc. (NYSE:PATH)

Assenagon Asset Management S.A. trimmed its position in UiPath Inc. (NYSE:PATH - Free Report) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 652,777 shares of the company's stock after selling 26,874 shares during the period. Assenagon Asset Management S.A. owned about 0.12% of UiPath worth $8,297,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PATH. Future Financial Wealth Managment LLC acquired a new stake in shares of UiPath during the 3rd quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new position in UiPath in the third quarter valued at approximately $26,000. Quarry LP grew its holdings in UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company's stock worth $40,000 after acquiring an additional 2,729 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company's stock valued at $52,000 after acquiring an additional 2,274 shares during the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of UiPath by 21,710.0% in the 3rd quarter. True Wealth Design LLC now owns 4,362 shares of the company's stock valued at $56,000 after purchasing an additional 4,342 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares of the company's stock, valued at $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the transaction, the chief financial officer now directly owns 856,538 shares in the company, 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. Insiders own 22.37% of the company's stock.

Analyst Ratings Changes

PATH has been the subject of a number of recent analyst reports. Barclays dropped their price objective on UiPath from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, January 10th. UBS Group initiated coverage on shares of UiPath in a report on Thursday, December 12th. They issued a "sell" rating and a $14.00 price target for the company. Morgan Stanley increased their price objective 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 research report on Wednesday, January 15th. Finally, Wells Fargo & Company cut their price target on shares of UiPath from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 23rd. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $17.44.

UiPath Stock Down 2.4 %

Shares of NYSE PATH traded down $0.33 during midday trading on Monday, hitting $13.02. 6,101,422 shares of the company's stock were exchanged, compared to its average volume of 6,832,750. The firm has a market capitalization of $7.16 billion, a PE ratio of -81.40 and a beta of 0.96. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The company's 50 day moving average price is $13.59 and its 200 day moving average price is $12.78.

UiPath 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.