UiPath Inc. (NYSE:PATH) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in UiPath Inc. (NYSE:PATH) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 487,090 shares of the company’s stock after selling 8,949 shares during the quarter. Rhumbline Advisers owned about 0.09% of UiPath worth $6,191,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PATH. V Square Quantitative Management LLC lifted its holdings in UiPath by 33.4% in the fourth 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. Quarry LP raised its position in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after purchasing an additional 2,274 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of UiPath by 21,710.0% in the 3rd quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock valued at $56,000 after purchasing an additional 4,342 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of UiPath during the 3rd quarter worth $65,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Stock Performance

Shares of PATH opened at $12.73 on Thursday. The stock has a 50-day simple moving average of $13.65 and a 200-day simple moving average of $13.17. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $25.47. The stock has a market capitalization of $6.99 billion, a PE ratio of -79.53 and a beta of 0.98.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PATH shares. 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 report on Friday, December 6th. BMO Capital Markets boosted their price target on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, 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. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UiPath currently has an average rating of “Hold” and a consensus price target of $17.44.

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.