Charles Schwab Investment Management Inc. Reduces Holdings in UiPath Inc. (NYSE:PATH)

Charles Schwab Investment Management Inc. lowered its position in UiPath Inc. (NYSE:PATH - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,818,561 shares of the company's stock after selling 71,799 shares during the period. Charles Schwab Investment Management Inc. owned 0.51% of UiPath worth $35,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Amalgamated Bank raised its holdings in UiPath by 7.1% in the third quarter. Amalgamated Bank now owns 27,312 shares of the company's stock worth $350,000 after buying an additional 1,811 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of UiPath by 10.5% during the third quarter. Principal Financial Group Inc. now owns 36,685 shares of the company's stock valued at $470,000 after buying an additional 3,477 shares during the last quarter. Versor Investments LP bought a new stake in UiPath in the 3rd quarter worth about $266,000. Oppenheimer & Co. Inc. raised its position in UiPath by 5.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 195,641 shares of the company's stock worth $2,504,000 after buying an additional 9,709 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in UiPath by 10.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company's stock valued at $267,000 after acquiring an additional 1,995 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analysts Set New Price Targets

PATH has been the subject of several research reports. Canaccord Genuity Group decreased their price objective on shares of UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Morgan Stanley decreased their target price on shares of UiPath from $16.00 to $12.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Mizuho dropped their price target on UiPath from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Scotiabank reduced their price objective on UiPath from $15.00 to $12.00 and set a "sector perform" rating for the company in a research report on Thursday, March 13th. Finally, BMO Capital Markets cut their target price on shares of UiPath from $16.00 to $11.50 and set a "market perform" rating for the company in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $14.53.

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Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the business's 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 sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares of the company's stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

UiPath Stock Performance

PATH traded up $0.04 during trading on Thursday, reaching $10.84. 8,276,185 shares of the company traded hands, compared to its average volume of 9,531,179. The firm has a fifty day simple moving average of $13.20 and a 200 day simple moving average of $13.11. UiPath Inc. has a 12-month low of $9.50 and a 12-month high of $23.97. The company has a market cap of $5.95 billion, a P/E ratio of -67.85 and a beta of 1.00.

About UiPath

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.