Hitesh Ramani Sells 12,500 Shares of UiPath Inc. (NYSE:PATH) Stock

UiPath Inc. (NYSE:PATH - Get Free Report) CAO Hitesh Ramani sold 12,500 shares of the firm'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 transaction, the chief accounting officer now directly owns 314,891 shares of the company's stock, valued at approximately $3,208,739.29. This represents a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

UiPath Stock Up 2.4 %

PATH stock traded up $0.26 during trading on Friday, reaching $10.89. 18,592,011 shares of the company's stock were exchanged, compared to its average volume of 10,253,219. The firm has a market cap of $6.00 billion, a PE ratio of -68.03 and a beta of 1.04. The company's fifty day moving average price is $12.03 and its 200-day moving average price is $12.87. UiPath Inc. has a 1-year low of $9.38 and a 1-year high of $21.17.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of UiPath during the 4th quarter worth $71,191,000. Senvest Management LLC boosted its position in shares of UiPath by 29.2% in the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock valued at $178,890,000 after purchasing an additional 3,180,300 shares during the period. AQR Capital Management LLC raised its holdings in shares of UiPath by 45.3% during the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock valued at $84,209,000 after acquiring an additional 2,072,089 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of UiPath by 35.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock valued at $69,385,000 after purchasing an additional 1,432,569 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in UiPath by 111.8% during the 4th quarter. Marshall Wace LLP now owns 2,456,102 shares of the company's stock worth $31,217,000 after acquiring an additional 1,296,382 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities analysts recently commented on PATH shares. Bank of America reiterated an "underperform" rating and issued a $10.00 price target (down from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Mizuho lowered their price target on UiPath from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. UBS Group reduced their price objective on UiPath from $14.00 to $10.00 and set a "sell" rating on the stock in a research note on Thursday, March 13th. Canaccord Genuity Group lowered their target price 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. Finally, Morgan Stanley reduced their price target on shares of UiPath from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $12.78.

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.