Stevens Capital Management LP Purchases Shares of 22,657 UiPath Inc. (NYSE:PATH)

Stevens Capital Management LP bought a new position in shares of UiPath Inc. (NYSE:PATH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 22,657 shares of the company's stock, valued at approximately $288,000.

A number of other hedge funds have also added to or reduced their stakes in PATH. Smartleaf Asset Management LLC raised its holdings in shares of UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock valued at $31,000 after purchasing an additional 1,152 shares during the period. First Horizon Advisors Inc. increased its position in UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after buying an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock worth $38,000 after buying an additional 1,742 shares during the period. V Square Quantitative Management LLC boosted its holdings in UiPath by 33.4% in 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 in the last quarter. Finally, Quarry LP grew its stake in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company's stock valued at $40,000 after acquiring an additional 2,729 shares during the period. 62.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PATH. Evercore ISI lowered 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. UBS Group lowered their target price 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. Bank of America reaffirmed an "underperform" rating and issued a $10.00 price target (down previously from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Scotiabank decreased their price objective on UiPath from $15.00 to $12.00 and set a "sector perform" rating for the company in a report on Thursday, March 13th. Finally, Mizuho dropped their target price on UiPath from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.62.

Insiders Place Their Bets

In related news, CAO Hitesh Ramani sold 25,000 shares of the business'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 transaction 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 approximately $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.37% of the company's stock.

UiPath Stock Down 1.7 %

PATH traded down $0.19 on Friday, hitting $10.69. The company's stock had a trading volume of 8,158,831 shares, compared to its average volume of 9,825,221. UiPath Inc. has a 12 month low of $9.50 and a 12 month high of $22.83. The firm has a market cap of $5.87 billion, a P/E ratio of -66.78 and a beta of 1.00. The company's 50 day simple moving average is $12.89 and its 200-day simple moving average is $13.03.

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.