Neuberger Berman Group LLC Has $32.11 Million Stock Position in UiPath Inc. (NYSE:PATH)

Neuberger Berman Group LLC grew its stake in shares of UiPath Inc. (NYSE:PATH - Free Report) by 42.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,526,348 shares of the company's stock after purchasing an additional 748,940 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.46% of UiPath worth $32,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PATH. Smartleaf Asset Management LLC grew its holdings in UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock worth $31,000 after buying an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after purchasing an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock worth $38,000 after purchasing an additional 1,742 shares during the period. V Square Quantitative Management LLC increased its stake in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock valued at $39,000 after buying an additional 759 shares during the period. Finally, Quarry LP lifted its stake in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company's stock worth $40,000 after acquiring an additional 2,729 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

PATH has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on UiPath from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Morgan Stanley cut their price objective on UiPath from $16.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $13.00 price target on shares of UiPath in a research report on Wednesday, March 26th. Scotiabank reduced their price objective on UiPath from $15.00 to $12.00 and set a "sector perform" rating for the company in a research note on Thursday, March 13th. Finally, Mizuho reduced their target price on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday. 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $12.72.

UiPath Stock Performance

Shares of UiPath stock traded down $0.12 during trading on Tuesday, reaching $10.59. The company's stock had a trading volume of 37,959,469 shares, compared to its average volume of 10,398,964. UiPath Inc. has a one year low of $9.38 and a one year high of $20.95. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of -66.20 and a beta of 1.04. The business's fifty day moving average price is $11.95 and its 200-day moving average price is $12.85.

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 12,500 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer now 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 is accessible through the SEC website. Company insiders own 22.37% of the company's stock.

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.