KBC Group NV Trims Position in UiPath Inc. (NYSE:PATH)

KBC Group NV reduced its position in shares of UiPath Inc. (NYSE:PATH) by 13.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,754 shares of the company’s stock after selling 2,682 shares during the quarter. KBC Group NV’s holdings in UiPath were worth $213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JTC Employer Solutions Trustee Ltd bought a new stake in UiPath during the third quarter valued at approximately $26,000. Future Financial Wealth Managment LLC bought a new stake in shares of UiPath during the 3rd quarter valued at $26,000. Quarry LP increased its stake in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after purchasing an additional 2,274 shares during the period. Finally, True Wealth Design LLC lifted its position in UiPath by 21,710.0% during the third 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 in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Activity

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

UiPath Stock Up 1.7 %

PATH stock opened at $14.45 on Wednesday. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The firm has a market capitalization of $7.94 billion, a P/E ratio of -90.30 and a beta of 0.98. The company has a fifty day simple moving average of $13.74 and a two-hundred day simple moving average of $12.91.

Analyst Upgrades and Downgrades

PATH has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. Barclays decreased their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. upped their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Wells Fargo & Company decreased their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Morgan Stanley upped their target price on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.