Assenagon Asset Management S.A. Sells 26,874 Shares of UiPath Inc. (NYSE:PATH)

Assenagon Asset Management S.A. lessened its holdings in UiPath Inc. (NYSE:PATH) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 652,777 shares of the company’s stock after selling 26,874 shares during the quarter. Assenagon Asset Management S.A. owned 0.12% of UiPath worth $8,297,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. 180 Wealth Advisors LLC raised its stake in shares of UiPath by 4.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 485,354 shares of the company’s stock worth $6,169,000 after purchasing an additional 18,493 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in UiPath by 9.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 64,109 shares of the company’s stock valued at $815,000 after acquiring an additional 5,661 shares during the last quarter. Claro Advisors LLC acquired a new position in shares of UiPath during the 4th quarter worth about $142,000. Diversified Trust Co bought a new stake in shares of UiPath in the 4th quarter valued at about $715,000. Finally, Everence Capital Management Inc. bought a new position in UiPath during the fourth quarter worth about $241,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Performance

UiPath stock opened at $13.02 on Monday. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The stock has a market capitalization of $7.16 billion, a P/E ratio of -81.40 and a beta of 0.96. The stock has a fifty day moving average of $13.59 and a 200-day moving average of $12.78.

Insider Transactions at UiPath

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PATH. BMO Capital Markets raised 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. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. Barclays reduced their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Wells Fargo & Company cut their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group assumed coverage on UiPath in a research note 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 issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Company 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.