UiPath Inc. (NYSE:PATH) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in UiPath Inc. (NYSE:PATH - Free Report) by 73.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,118,774 shares of the company's stock after buying an additional 475,133 shares during the period. Russell Investments Group Ltd. owned about 0.20% of UiPath worth $14,220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PATH. Vanguard Group Inc. raised 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 acquiring an additional 576,458 shares during the last quarter. Geode Capital Management LLC grew its position in shares of UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company's stock valued at $93,619,000 after purchasing an additional 493,502 shares during the period. Norges Bank acquired a new position in UiPath in the fourth quarter valued at $71,191,000. Bank of New York Mellon Corp lifted its position in UiPath by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company's stock worth $30,984,000 after buying an additional 66,100 shares during the period. Finally, Ieq Capital LLC boosted its stake in UiPath by 29.7% in the 4th quarter. Ieq Capital LLC now owns 1,885,904 shares of the company's stock worth $23,970,000 after buying an additional 431,451 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Insider Activity

In other news, CAO Hitesh Ramani sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were 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 owns 314,891 shares of the company's stock, valued at approximately $3,208,739.29. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 22.37% of the company's stock.

UiPath Price Performance

UiPath stock traded up $0.05 during midday trading on Wednesday, hitting $10.63. 6,610,281 shares of the stock were exchanged, compared to its average volume of 11,877,294. UiPath Inc. has a 1 year low of $9.38 and a 1 year high of $20.95. The firm has a market cap of $5.86 billion, a P/E ratio of -66.42 and a beta of 1.04. The company has a 50 day moving average price of $11.87 and a two-hundred day moving average price of $12.84.

Analysts Set New Price Targets

PATH has been the topic of several recent analyst reports. UBS Group cut their price objective on shares of UiPath from $14.00 to $10.00 and set a "sell" rating on the stock in a report on Thursday, March 13th. Mizuho cut 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. Canaccord Genuity Group lowered their price objective on shares of UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Scotiabank cut their target price on UiPath from $15.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 13th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $13.00 target price on shares of UiPath in a report on Wednesday, March 26th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.72.

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.