Van ECK Associates Corp Invests $205,000 in UiPath Inc. (NYSE:PATH)

Van ECK Associates Corp bought a new position in shares of UiPath Inc. (NYSE:PATH) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,148 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cowa LLC lifted its position in shares of UiPath by 4.4% during the 3rd quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after buying an additional 1,118 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its position in shares of UiPath by 6.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock worth $334,000 after buying an additional 1,654 shares during the last quarter. Amalgamated Bank lifted its position in shares of UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after buying an additional 1,811 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of UiPath by 10.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock worth $267,000 after buying an additional 1,995 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after buying an additional 2,274 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Hitesh Ramani sold 25,000 shares of the company’s 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 sale, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PATH shares. BMO Capital Markets upped their price objective on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price target on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. UBS Group began coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 price target on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, UiPath has a consensus rating of “Hold” and an average target price of $17.44.

UiPath Stock Down 5.2 %

NYSE PATH opened at $13.44 on Monday. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -83.97 and a beta of 0.98. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $25.47. The business has a 50 day moving average price of $13.70 and a 200-day moving average price of $13.15.

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.