Janney Montgomery Scott LLC Sells 81,377 Shares of UiPath Inc. (NYSE:PATH)

Janney Montgomery Scott LLC cut its position in UiPath Inc. (NYSE:PATH - Free Report) by 77.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,231 shares of the company's stock after selling 81,377 shares during the period. Janney Montgomery Scott LLC's holdings in UiPath were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cowa LLC lifted its position in shares of UiPath by 4.4% during the third quarter. Cowa LLC now owns 26,681 shares of the company's stock worth $342,000 after purchasing an additional 1,118 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its position in shares of UiPath by 6.8% during the third quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company's stock worth $334,000 after purchasing an additional 1,654 shares in the last quarter. Amalgamated Bank lifted its position in shares of UiPath by 7.1% during the third quarter. Amalgamated Bank now owns 27,312 shares of the company's stock worth $350,000 after purchasing an additional 1,811 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of UiPath by 10.6% during the third quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company's stock worth $267,000 after purchasing an additional 1,995 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in shares of UiPath during the third quarter worth approximately $26,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the firm'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 transaction, the chief accounting officer now directly owns 269,421 shares of the company's stock, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $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. 22.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a report on Friday, December 6th. BMO Capital Markets increased their price objective on shares of UiPath from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Friday, December 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Barclays cut their price objective on shares of UiPath from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley increased their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $17.44.

UiPath Price Performance

PATH stock traded down $0.20 during trading hours on Friday, reaching $14.94. The stock had a trading volume of 7,489,117 shares, compared to its average volume of 8,161,771. The stock has a market capitalization of $8.21 billion, a PE ratio of -93.36 and a beta of 0.98. The stock has a 50-day simple moving average of $13.73 and a 200 day simple moving average of $13.03. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $26.56.

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.