Vanguard Group Inc. Increases Stake in UiPath Inc. (NYSE:PATH)

Vanguard Group Inc. increased its position in UiPath Inc. (NYSE:PATH - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,664,124 shares of the company's stock after purchasing an additional 576,458 shares during the period. Vanguard Group Inc. owned 8.49% of UiPath worth $593,101,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc raised its stake in shares of UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company's stock worth $187,000 after buying an additional 736 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after purchasing an additional 759 shares during the period. First Horizon Advisors Inc. lifted its position in shares of UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after acquiring an additional 804 shares in the last quarter. Amalgamated Bank boosted its stake in UiPath by 3.1% in the 4th quarter. Amalgamated Bank now owns 28,148 shares of the company's stock worth $358,000 after purchasing an additional 836 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock valued at $31,000 after purchasing an additional 1,152 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

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Analyst Ratings Changes

A number of research firms have recently weighed in on PATH. BMO Capital Markets dropped their price target on shares of UiPath from $16.00 to $11.50 and set a "market perform" rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company lowered 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. Evercore ISI reduced their price objective on shares of UiPath from $16.00 to $12.00 and set an "in-line" rating for the company in a research note on Thursday, March 13th. Morgan Stanley reduced their price target on UiPath from $16.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Bank of America reissued an "underperform" rating and issued a $10.00 price objective (down from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $13.62.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,227 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company's stock, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction 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 approximately $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.37% of the company's stock.

UiPath Stock Down 5.1 %

Shares of NYSE:PATH traded down $0.56 during midday trading on Thursday, reaching $10.27. 16,081,970 shares of the company traded hands, compared to its average volume of 9,886,747. The firm's fifty day moving average price is $12.73 and its two-hundred day moving average price is $13.00. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of -64.16 and a beta of 1.00. UiPath Inc. has a 12 month low of $9.50 and a 12 month high of $22.11.

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.