Nikko Asset Management Americas Inc. Sells 1,579,445 Shares of UiPath Inc. (NYSE:PATH)

Nikko Asset Management Americas Inc. reduced its position in UiPath Inc. (NYSE:PATH - Free Report) by 11.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,590,291 shares of the company's stock after selling 1,579,445 shares during the quarter. UiPath accounts for about 1.7% of Nikko Asset Management Americas Inc.'s holdings, making the stock its 15th largest holding. Nikko Asset Management Americas Inc. owned approximately 2.29% of UiPath worth $160,023,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position 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 purchasing an additional 1,152 shares during the period. First Horizon Advisors Inc. grew 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 buying an additional 804 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 1,742 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock valued at $39,000 after acquiring an additional 759 shares during the last quarter. Finally, Quarry LP boosted its holdings in UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company's stock valued at $40,000 after acquiring an additional 2,729 shares during the period. 62.50% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 47,227 shares of the business's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

UiPath Stock Performance

Shares of PATH traded down $0.02 during mid-day trading on Friday, reaching $10.81. The company had a trading volume of 11,477,287 shares, compared to its average volume of 9,554,103. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of -67.53 and a beta of 1.00. The firm has a 50-day moving average price of $13.15 and a 200 day moving average price of $13.09. UiPath Inc. has a 52 week low of $9.50 and a 52 week high of $23.97.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Morgan Stanley dropped their price target on shares of UiPath from $16.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a report on Thursday, March 13th. Mizuho lowered their price objective on shares of UiPath from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, Evercore ISI cut their target price on UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $13.62.

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.