Raymond James Financial Inc. Takes $5.51 Million Position in UiPath Inc. (NYSE:PATH)

Raymond James Financial Inc. bought a new stake in UiPath Inc. (NYSE:PATH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 433,165 shares of the company's stock, valued at approximately $5,506,000. Raymond James Financial Inc. owned about 0.08% of UiPath at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of UiPath during the 4th quarter worth about $71,191,000. Trexquant Investment LP purchased a new position in shares of UiPath in the 4th quarter valued at $15,611,000. Federated Hermes Inc. boosted its position in UiPath by 371.6% during the 4th quarter. Federated Hermes Inc. now owns 987,384 shares of the company's stock worth $12,550,000 after purchasing an additional 778,032 shares during the period. Vanguard Group Inc. increased its holdings in UiPath by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company's stock valued at $593,101,000 after purchasing an additional 576,458 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of UiPath by 73.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,118,774 shares of the company's stock worth $14,220,000 after purchasing an additional 475,133 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

UiPath Stock Up 2.3 %

NYSE:PATH traded up $0.26 during trading hours on Friday, reaching $11.58. 10,860,748 shares of the company's stock were exchanged, compared to its average volume of 10,652,955. The company has a market capitalization of $6.39 billion, a P/E ratio of -72.38 and a beta of 1.04. UiPath Inc. has a 12 month low of $9.38 and a 12 month high of $20.95. The business's 50-day simple moving average is $11.26 and its two-hundred day simple moving average is $12.75.

Insider Transactions at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the company's stock in a transaction on 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 sale, the chief accounting officer now directly owns 314,891 shares of the company's stock, valued at $3,208,739.29. This represents a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 22.37% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on PATH. Canaccord Genuity Group reduced their price target on UiPath from $19.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Scotiabank reduced their target price 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. Mizuho dropped their price target on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. 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 report on Thursday, March 13th. Finally, UBS Group lowered their target price on UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.72.

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.