UiPath Inc. (NYSE:PATH) Stake Lowered by Private Advisor Group LLC

Private Advisor Group LLC trimmed its holdings in UiPath Inc. (NYSE:PATH) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,989 shares of the company’s stock after selling 1,379 shares during the quarter. Private Advisor Group LLC’s holdings in UiPath were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board lifted its position in UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after purchasing an additional 62,650 shares during the period. D.A. Davidson & CO. lifted its position in UiPath by 60.1% in the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after purchasing an additional 209,300 shares during the period. Stifel Financial Corp lifted its position in UiPath by 30.1% in the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after purchasing an additional 74,959 shares during the period. Senvest Management LLC lifted its position in UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares during the period. Finally, Quantbot Technologies LP lifted its position in UiPath by 667.7% in the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after purchasing an additional 88,468 shares during the period. 62.50% of the stock is owned by institutional investors.

UiPath Trading Down 2.9 %

NYSE PATH opened at $11.72 on Friday. The company has a market capitalization of $6.44 billion, a PE ratio of -73.22 and a beta of 0.98. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $25.47. The firm’s fifty day simple moving average is $13.52 and its 200-day simple moving average is $13.18.

Insiders Place Their Bets

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PATH. Morgan Stanley increased their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Barclays cut their price objective on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. BMO Capital Markets increased their price objective on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. One equities 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 company’s stock. According to data from MarketBeat.com, UiPath has an average rating of “Hold” and a consensus target price 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.