KLP Kapitalforvaltning AS Makes New $1.08 Million Investment in UiPath Inc. (NYSE:PATH)

KLP Kapitalforvaltning AS acquired a new stake in shares of UiPath Inc. (NYSE:PATH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 85,200 shares of the company's stock, valued at approximately $1,083,000.

Other hedge funds also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC bought a new position in shares of UiPath in the fourth quarter worth approximately $298,000. Stifel Financial Corp lifted its position in UiPath by 30.1% during the third quarter. Stifel Financial Corp now owns 323,818 shares of the company's stock valued at $4,145,000 after buying an additional 74,959 shares during the period. Quantbot Technologies LP boosted its stake in UiPath by 667.7% during the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company's stock worth $1,302,000 after acquiring an additional 88,468 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock valued at $51,539,000 after buying an additional 3,411,562 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in UiPath by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company's stock valued at $470,000 after purchasing an additional 3,477 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

UiPath Price Performance

Shares of NYSE PATH traded up $0.20 during midday trading on Tuesday, reaching $10.50. 9,934,093 shares of the stock traded hands, compared to its average volume of 9,837,969. The stock has a market capitalization of $5.79 billion, a PE ratio of -65.64 and a beta of 1.00. The company's 50 day moving average is $12.84 and its 200 day moving average is $13.03. UiPath Inc. has a one year low of $9.50 and a one year high of $22.83.

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Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. 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. Wells Fargo & Company lowered their price objective on shares of UiPath from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Evercore ISI cut their target price on shares of UiPath from $16.00 to $12.00 and set an "in-line" rating for the company in a research report on Thursday, March 13th. Scotiabank decreased their price target on shares of UiPath from $15.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lifted their target price on UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $13.62.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 47,227 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath 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 sale, the chief accounting officer now owns 269,421 shares of the company's stock, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by company insiders.

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.