IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of UiPath Inc. (NYSE:PATH - Free Report) by 163.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,526 shares of the company's stock after buying an additional 68,536 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in UiPath were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in PATH. Vanguard Group Inc. grew its stake in shares of UiPath by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company's stock worth $593,101,000 after acquiring an additional 576,458 shares during the period. Geode Capital Management LLC boosted its holdings in UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company's stock worth $93,619,000 after purchasing an additional 493,502 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company's stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the period. Charles Schwab Investment Management Inc. raised its stake in UiPath by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company's stock valued at $36,997,000 after buying an additional 291,171 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of UiPath by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company's stock valued at $30,984,000 after buying an additional 66,100 shares during the period. Institutional investors own 62.50% of the company's stock.
Insiders Place Their Bets
In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the firm's 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 transaction, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
PATH has been the subject of several research analyst reports. Barclays cut their price objective on UiPath from $15.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Wells Fargo & Company cut their price target on UiPath from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Bank of America reiterated an "underperform" rating and issued a $10.00 price objective (down previously from $18.00) on shares of UiPath in a research note on Thursday, March 13th. UBS Group cut their target price on shares of UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, March 13th. Finally, Canaccord Genuity Group reduced their target price on shares of UiPath from $19.00 to $14.00 and set a "buy" rating for the company 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $13.62.
Read Our Latest Stock Report on PATH
UiPath Price Performance
Shares of NYSE:PATH traded down $0.40 during trading on Monday, hitting $10.30. 6,681,470 shares of the company's stock were exchanged, compared to its average volume of 10,506,065. The business's 50-day simple moving average is $12.89 and its 200 day simple moving average is $13.04. The company has a market cap of $5.66 billion, a price-to-earnings ratio of -64.34 and a beta of 1.00. UiPath Inc. has a 52-week low of $9.50 and a 52-week high of $22.83.
UiPath Company Profile
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Free Report)
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.
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