UiPath Inc. (NYSE:PATH) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in shares of UiPath Inc. (NYSE:PATH - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 709,618 shares of the company's stock after selling 43,338 shares during the quarter. California Public Employees Retirement System owned 0.13% of UiPath worth $9,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock valued at $31,000 after buying an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after acquiring an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock worth $38,000 after purchasing an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after purchasing an additional 759 shares during the period. Finally, Quarry LP raised its position in UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company's stock valued at $40,000 after purchasing an additional 2,729 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays cut their price target on UiPath from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company reduced their price target on shares of UiPath from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Mizuho dropped their price objective on shares of UiPath from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Bank of America reissued an "underperform" rating and issued a $10.00 price objective (down previously from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Finally, Scotiabank dropped their target price on UiPath from $15.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $12.78.

Insiders Place Their Bets

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

UiPath Stock Performance

PATH stock traded up $0.26 during trading on Friday, reaching $10.89. The company had a trading volume of 18,592,011 shares, compared to its average volume of 10,253,219. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -68.03 and a beta of 1.04. UiPath Inc. has a twelve month low of $9.38 and a twelve month high of $21.17. The firm has a 50-day simple moving average of $12.03 and a 200-day simple moving average of $12.87.

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.