Proficio Capital Partners LLC Buys New Holdings in UiPath Inc. (NYSE:PATH)

Proficio Capital Partners LLC acquired a new position in shares of UiPath Inc. (NYSE:PATH - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 24,174 shares of the company's stock, valued at approximately $307,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in 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 buying an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after acquiring an additional 804 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after acquiring an additional 759 shares during the period. Quarry LP raised its holdings in UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company's stock worth $40,000 after purchasing an additional 2,729 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in UiPath by 21,710.0% in the third quarter. True Wealth Design LLC now owns 4,362 shares of the company's stock valued at $56,000 after purchasing an additional 4,342 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Stock Performance

UiPath stock traded down $0.19 during midday trading on Friday, reaching $10.69. 8,158,831 shares of the company were exchanged, compared to its average volume of 9,825,224. The firm's 50-day simple moving average is $12.89 and its 200-day simple moving average is $13.04. UiPath Inc. has a 1 year low of $9.50 and a 1 year high of $22.83. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of -66.78 and a beta of 1.00.

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Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,227 shares of the firm's 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 sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This trade 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 is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the company's 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 completion of the transaction, the chief accounting officer now 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 disclosure for this sale can be found here. Insiders own 22.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PATH shares. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a research report on Wednesday. BMO Capital Markets dropped their price objective on UiPath from $16.00 to $11.50 and set a "market perform" rating on the stock in a report on Friday, March 14th. Morgan Stanley reduced their target price on UiPath from $16.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. 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. Finally, Barclays reduced their price objective on shares of UiPath from $15.00 to $12.00 and set an "equal weight" rating for the company in a research note 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 company currently has an average rating of "Hold" and a consensus target price of $13.62.

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.