Wakefield Asset Management LLLP Makes New Investment in UiPath Inc. (NYSE:PATH)

Wakefield Asset Management LLLP acquired a new position in shares of UiPath Inc. (NYSE:PATH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 78,760 shares of the company's stock, valued at approximately $1,001,000.

A number of other hedge funds have also bought and sold shares of the company. Creative Planning boosted its stake in shares of UiPath by 21.0% during the 3rd quarter. Creative Planning now owns 59,019 shares of the company's stock worth $744,000 after purchasing an additional 10,258 shares during the period. Raymond James & Associates lifted its stake in UiPath by 4.3% in the third quarter. Raymond James & Associates now owns 240,145 shares of the company's stock worth $3,074,000 after purchasing an additional 9,814 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company's stock valued at $52,000 after buying an additional 2,274 shares during the period. International Assets Investment Management LLC grew its stake in shares of UiPath by 1,103.9% during the third quarter. International Assets Investment Management LLC now owns 91,072 shares of the company's stock valued at $1,166,000 after buying an additional 83,507 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of UiPath by 164.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 95,469 shares of the company's stock worth $1,222,000 after buying an additional 59,435 shares during the period. Institutional investors own 62.50% of the company's stock.

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UiPath Price Performance

Shares of NYSE:PATH traded up $0.05 during midday trading on Tuesday, reaching $11.81. 10,532,541 shares of the company's stock were exchanged, compared to its average volume of 9,303,052. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $25.47. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of -73.78 and a beta of 0.98. The firm's 50 day simple moving average is $13.60 and its two-hundred day simple moving average is $13.20.

Analyst Ratings Changes

Several brokerages have commented on PATH. Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a research report on Wednesday, January 15th. Barclays cut their price target 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Morgan Stanley boosted their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Friday, December 6th. Finally, UBS Group assumed coverage on shares of UiPath in a research report on Thursday, December 12th. They set a "sell" rating and a $14.00 target price on the stock. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $17.44.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company's stock, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The shares were 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 owns 269,421 shares of the company's stock, valued at $3,515,944.05. This trade represents 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.

About UiPath

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.