Victory Capital Management Inc. Has $647,000 Stock Holdings in UiPath Inc. (NYSE:PATH)

Victory Capital Management Inc. cut its stake in shares of UiPath Inc. (NYSE:PATH) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,910 shares of the company’s stock after selling 2,216 shares during the period. Victory Capital Management Inc.’s holdings in UiPath were worth $647,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PATH. Jacobs Levy Equity Management Inc. raised its position in shares of UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the period. Senvest Management LLC grew its holdings in shares of UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of UiPath during the third quarter valued at $19,071,000. Geode Capital Management LLC grew its holdings in shares of UiPath by 7.2% during the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after buying an additional 493,502 shares in the last quarter. Finally, Washington Harbour Partners LP purchased a new position in shares of UiPath during the third quarter valued at $5,684,000. 62.50% of the stock is owned by institutional investors and hedge funds.

UiPath Stock Performance

PATH opened at $10.81 on Friday. UiPath Inc. has a 52-week low of $9.50 and a 52-week high of $23.64. The company has a market cap of $5.94 billion, a PE ratio of -67.53 and a beta of 1.00. The stock has a 50-day moving average of $13.10 and a 200-day moving average of $13.08.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on UiPath from $16.00 to $13.00 and set a “sector perform” rating on the stock in a report on Thursday, March 13th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Thursday, March 13th. Scotiabank lowered their price target on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company lowered their target price on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, BMO Capital Markets lowered their target price on UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.62.

Insider Buying and Selling

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by 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.