Edgestream Partners L.P. Sells 205,191 Shares of UiPath Inc. (NYSE:PATH)

Edgestream Partners L.P. trimmed its holdings in shares of UiPath Inc. (NYSE:PATH - Free Report) by 51.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,803 shares of the company's stock after selling 205,191 shares during the quarter. Edgestream Partners L.P.'s holdings in UiPath were worth $2,476,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc grew its holdings in UiPath by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company's stock worth $187,000 after acquiring an additional 736 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in shares of UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock valued at $39,000 after purchasing an additional 759 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after purchasing an additional 804 shares during the last quarter. Amalgamated Bank boosted its stake in shares of UiPath by 3.1% in the 4th quarter. Amalgamated Bank now owns 28,148 shares of the company's stock valued at $358,000 after purchasing an additional 836 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock valued at $31,000 after purchasing an additional 1,152 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PATH shares. Morgan Stanley upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. UBS Group started coverage on shares of UiPath in a research note on Thursday, December 12th. They issued a "sell" rating and a $14.00 price objective on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a research note on Wednesday, January 15th. BMO Capital Markets upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Friday, December 6th. Finally, Barclays cut their target price on shares of UiPath from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $17.44.

Insiders Place Their Bets

In related news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction on 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 directly owns 269,421 shares of the company's stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction on 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 directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. The trade was 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.

UiPath Trading Up 1.9 %

Shares of PATH stock traded up $0.22 during trading hours on Wednesday, hitting $11.96. 1,834,156 shares of the company's stock were exchanged, compared to its average volume of 9,367,699. The company has a market capitalization of $6.57 billion, a PE ratio of -74.47 and a beta of 1.00. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $25.47. The business's 50 day simple moving average is $13.48 and its 200-day simple moving average is $13.19.

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.