Bridgewater Associates LP Boosts Stake in UiPath Inc. (NYSE:PATH)

Bridgewater Associates LP grew its stake in shares of UiPath Inc. (NYSE:PATH - Free Report) by 136.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,147,054 shares of the company's stock after acquiring an additional 662,788 shares during the quarter. Bridgewater Associates LP owned about 0.21% of UiPath worth $14,579,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of UiPath in the 4th quarter valued at $71,191,000. Senvest Management LLC boosted its position in UiPath by 29.2% during the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock worth $178,890,000 after buying an additional 3,180,300 shares during the period. Trexquant Investment LP bought a new stake in shares of UiPath in the fourth quarter worth $15,611,000. Federated Hermes Inc. increased its stake in shares of UiPath by 371.6% in the fourth quarter. Federated Hermes Inc. now owns 987,384 shares of the company's stock valued at $12,550,000 after buying an additional 778,032 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in UiPath by 42.1% during the 4th quarter. Neuberger Berman Group LLC now owns 2,526,348 shares of the company's stock worth $32,113,000 after purchasing an additional 748,940 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on PATH shares. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a research report on Wednesday, March 26th. Canaccord Genuity Group cut their price target on UiPath from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Morgan Stanley dropped their price target on shares of UiPath from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada reiterated a "sector perform" rating and set a $13.00 price target on shares of UiPath in a report on Wednesday, March 26th. Finally, BMO Capital Markets reduced their target price on UiPath from $16.00 to $11.50 and set a "market perform" rating for the company in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $12.72.

UiPath Stock Up 0.6 %

PATH traded up $0.06 on Friday, hitting $10.44. The company's stock had a trading volume of 11,973,213 shares, compared to its average volume of 10,487,091. UiPath Inc. has a 12 month low of $9.38 and a 12 month high of $20.95. The firm has a market cap of $5.76 billion, a P/E ratio of -65.25 and a beta of 1.04. The company's 50 day simple moving average is $11.65 and its 200-day simple moving average is $12.79.

Insider Buying and Selling at UiPath

In related news, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the sale, the chief accounting officer now owns 314,891 shares of the company's stock, valued at approximately $3,208,739.29. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.37% of the company's stock.

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.