Merit Financial Group LLC Has $624,000 Stock Holdings in UiPath Inc. (NYSE:PATH)

Merit Financial Group LLC increased its holdings in shares of UiPath Inc. (NYSE:PATH - Free Report) by 183.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,105 shares of the company's stock after buying an additional 31,755 shares during the quarter. Merit Financial Group LLC's holdings in UiPath were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Senvest Management LLC increased its stake in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company's stock worth $139,449,000 after purchasing an additional 1,559,500 shares during the period. Geode Capital Management LLC grew its holdings in shares of UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company's stock worth $93,619,000 after purchasing an additional 493,502 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of UiPath by 554.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock valued at $51,539,000 after acquiring an additional 3,411,562 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of UiPath by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company's stock worth $36,997,000 after purchasing an additional 291,171 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company's stock worth $35,296,000 after buying an additional 754,519 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PATH shares. Needham & Company LLC restated a "hold" rating on shares of UiPath in a research report on Wednesday, January 15th. Barclays decreased their target price on UiPath from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Friday, January 10th. BMO Capital Markets boosted their target price on UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Friday, December 6th. Morgan Stanley boosted their price target on UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $16.00 price target on shares of UiPath in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $17.44.

Insider Buying and Selling at UiPath

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 value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 22.37% of the company's stock.

UiPath Trading Up 2.6 %

NYSE:PATH traded up $0.35 on Thursday, hitting $13.80. The company's stock had a trading volume of 5,657,346 shares, compared to its average volume of 8,071,987. The stock has a fifty day moving average of $13.59 and a two-hundred day moving average of $12.80. The firm has a market capitalization of $7.58 billion, a P/E ratio of -86.22 and a beta of 0.96. UiPath Inc. has a one year low of $10.37 and a one year high of $27.87.

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.