KLP Kapitalforvaltning AS Purchases New Shares in UiPath Inc. (NYSE:PATH)

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

Several other large investors also recently modified their holdings of the business. Sei Investments Co. lifted its holdings in shares of UiPath by 131.9% during the 4th quarter. Sei Investments Co. now owns 234,884 shares of the company's stock valued at $2,985,000 after purchasing an additional 133,616 shares in the last quarter. American Century Companies Inc. lifted its stake in UiPath by 103.7% in the fourth quarter. American Century Companies Inc. now owns 153,191 shares of the company's stock valued at $1,947,000 after buying an additional 77,983 shares in the last quarter. Virtu Financial LLC lifted its stake in UiPath by 381.7% in the fourth quarter. Virtu Financial LLC now owns 108,345 shares of the company's stock valued at $1,377,000 after buying an additional 85,851 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of UiPath in the fourth quarter valued at approximately $544,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of UiPath during the fourth quarter worth $50,000. 62.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 25,000 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $616,784.62. Following the sale, the chief financial officer now directly owns 856,538 shares of the company's stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Evercore ISI cut their price objective on shares of UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada restated a "sector perform" rating and issued a $13.00 price target on shares of UiPath in a report on Wednesday, March 26th. Canaccord Genuity Group decreased their price objective on UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. upped their price target on UiPath from $17.00 to $18.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Finally, Bank of America reaffirmed an "underperform" rating and set a $10.00 price target (down from $18.00) on shares of UiPath in a research note 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.62.

UiPath Trading Down 5.1 %

Shares of UiPath stock traded down $0.56 during trading on Thursday, hitting $10.27. 16,086,821 shares of the stock were exchanged, compared to its average volume of 9,901,855. UiPath Inc. has a 1-year low of $9.50 and a 1-year high of $22.11. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of -64.16 and a beta of 1.00. The company has a fifty day moving average price of $12.66 and a 200-day moving average price of $12.98.

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.