Legal & General Group Plc Decreases Stock Position in UiPath Inc. (NYSE:PATH)

Legal & General Group Plc decreased its position in shares of UiPath Inc. (NYSE:PATH - Free Report) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 613,534 shares of the company's stock after selling 77,524 shares during the period. Legal & General Group Plc owned approximately 0.11% of UiPath worth $7,798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PATH. Invesco Ltd. boosted its position in shares of UiPath by 10.5% during the fourth quarter. Invesco Ltd. now owns 382,800 shares of the company's stock valued at $4,865,000 after buying an additional 36,332 shares during the period. Cerity Partners LLC increased its stake in UiPath by 82.2% in the fourth quarter. Cerity Partners LLC now owns 267,705 shares of the company's stock worth $3,404,000 after purchasing an additional 120,805 shares during the period. Federated Hermes Inc. boosted its stake in shares of UiPath by 371.6% during the fourth quarter. Federated Hermes Inc. now owns 987,384 shares of the company's stock valued at $12,550,000 after purchasing an additional 778,032 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of UiPath in the fourth quarter worth about $102,000. Finally, Russell Investments Group Ltd. lifted its holdings in UiPath by 73.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,118,774 shares of the company's stock valued at $14,220,000 after buying an additional 475,133 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

UiPath Price Performance

Shares of UiPath stock opened at $10.44 on Friday. UiPath Inc. has a 1-year low of $9.38 and a 1-year high of $20.95. The stock has a market cap of $5.76 billion, a P/E ratio of -65.25 and a beta of 1.04. The stock's 50 day simple moving average is $11.65 and its 200-day simple moving average is $12.79.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PATH shares. Scotiabank decreased their price target on shares of UiPath from $15.00 to $12.00 and set a "sector perform" rating for the company in a research note on Thursday, March 13th. Morgan Stanley cut their price target on UiPath from $16.00 to $12.00 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 on the stock in a research report on Thursday, March 13th. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a research note on Wednesday, March 26th. Finally, Barclays lowered their target price on UiPath from $15.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.72.

Insider Buying and Selling at UiPath

In related news, CAO Hitesh Ramani sold 12,500 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 314,891 shares in the company, valued at $3,208,739.29. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.37% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.