Truist Financial Corp Buys Shares of 24,191 UiPath Inc. (NYSE:PATH)

Truist Financial Corp purchased a new position in shares of UiPath Inc. (NYSE:PATH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,191 shares of the company's stock, valued at approximately $307,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in shares of UiPath by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company's stock worth $187,000 after buying an additional 736 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in UiPath by 33.4% during the 4th 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. Cowa LLC grew its holdings in UiPath by 4.4% during the 3rd quarter. Cowa LLC now owns 26,681 shares of the company's stock worth $342,000 after acquiring an additional 1,118 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in UiPath by 6.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company's stock worth $334,000 after acquiring an additional 1,654 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company's stock worth $350,000 after acquiring an additional 1,811 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now directly owns 856,538 shares of the company's stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the company's stock in a transaction dated 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 sale, the chief accounting officer now directly 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. Company insiders own 22.37% of the company's stock.

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Wall Street Analysts Forecast Growth

PATH has been the subject of several recent analyst reports. Royal Bank of Canada reissued a "sector perform" rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of UiPath from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Barclays decreased their price objective on shares of UiPath from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, January 10th. BMO Capital Markets lifted their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.44.

UiPath Price Performance

Shares of NYSE PATH traded up $0.60 during midday trading on Friday, hitting $12.35. 16,477,654 shares of the company's stock were exchanged, compared to its average volume of 9,343,864. The stock's 50 day moving average price is $13.51 and its 200-day moving average price is $13.19. The firm has a market cap of $6.78 billion, a P/E ratio of -77.16 and a beta of 1.00. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $25.47.

UiPath 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.