Blue Trust Inc. Sells 23,886 Shares of UiPath Inc. (NYSE:PATH)

Blue Trust Inc. trimmed its position in UiPath Inc. (NYSE:PATH) by 79.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,199 shares of the company’s stock after selling 23,886 shares during the period. Blue Trust Inc.’s holdings in UiPath were worth $79,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in UiPath by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 111,503 shares of the company’s stock valued at $1,414,000 after buying an additional 6,989 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of UiPath in the 2nd quarter valued at about $155,000. Future Financial Wealth Managment LLC bought a new stake in shares of UiPath during the 3rd quarter valued at about $26,000. CWM LLC grew its holdings in shares of UiPath by 527.7% during the third quarter. CWM LLC now owns 112,208 shares of the company’s stock worth $1,436,000 after purchasing an additional 94,331 shares in the last quarter. Finally, Octavia Wealth Advisors LLC bought a new position in shares of UiPath in the third quarter worth approximately $132,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PATH shares. UBS Group started coverage on shares of UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 target price for the company. Barclays dropped their price objective 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. BMO Capital Markets increased their target price on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note 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 analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.44.

Insider Transactions at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the company’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 completion of the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of UiPath 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 sale, the chief financial officer now directly owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by company insiders.

UiPath Stock Down 2.3 %

Shares of PATH opened at $13.96 on Friday. The stock has a market capitalization of $7.67 billion, a P/E ratio of -87.22 and a beta of 0.98. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87. The firm has a fifty day simple moving average of $13.76 and a two-hundred day simple moving average of $12.95.

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.