UiPath Inc. (NYSE:PATH) Shares Sold by State Street Corp

State Street Corp decreased its holdings in shares of UiPath Inc. (NYSE:PATH - Free Report) by 16.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,408,940 shares of the company's stock after selling 1,414,698 shares during the period. State Street Corp owned about 1.35% of UiPath worth $94,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new stake in UiPath during the third quarter valued at about $26,000. JTC Employer Solutions Trustee Ltd bought a new position in UiPath in the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. purchased a new position in UiPath during the second quarter valued at $28,000. Quarry LP increased its holdings in UiPath by 654.4% in 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 last quarter. Finally, Redwood Wealth Management Group LLC bought a new position in shares of UiPath during the 2nd quarter valued at about $43,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PATH. DA Davidson lifted their price objective on shares of UiPath from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. Morgan Stanley raised their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Finally, Evercore ISI raised their price target on UiPath from $13.00 to $16.00 and gave the stock an "in-line" rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $17.50.

UiPath Trading Down 1.1 %

Shares of NYSE:PATH traded down $0.15 during trading on Tuesday, reaching $13.91. The stock had a trading volume of 5,964,170 shares, compared to its average volume of 9,672,439. The company has a market capitalization of $7.64 billion, a P/E ratio of -87.81 and a beta of 0.94. The firm's 50-day simple moving average is $13.36 and its 200 day simple moving average is $12.59. UiPath Inc. has a one year low of $10.37 and a one year high of $27.87.

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.