D.A. Davidson & CO. Decreases Stake in UiPath Inc. (NYSE:PATH)

D.A. Davidson & CO. lowered its stake in UiPath Inc. (NYSE:PATH) by 3.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 538,992 shares of the company’s stock after selling 18,675 shares during the period. D.A. Davidson & CO.’s holdings in UiPath were worth $6,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning raised its holdings in shares of UiPath by 21.0% during the third quarter. Creative Planning now owns 59,019 shares of the company’s stock worth $744,000 after purchasing an additional 10,258 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of UiPath by 36.5% during the third quarter. Blue Trust Inc. now owns 30,085 shares of the company’s stock worth $381,000 after purchasing an additional 8,039 shares during the last quarter. Raymond James & Associates raised its holdings in shares of UiPath by 4.3% during the third quarter. Raymond James & Associates now owns 240,145 shares of the company’s stock worth $3,074,000 after purchasing an additional 9,814 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of UiPath by 124.7% during the third 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 last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in shares of UiPath during the third quarter worth $877,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Trading Down 3.4 %

PATH opened at $14.40 on Thursday. The firm has a market capitalization of $7.91 billion, a PE ratio of -89.97 and a beta of 0.98. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $25.47. The firm’s 50-day moving average price is $13.71 and its 200 day moving average price is $13.10.

Analyst Ratings Changes

Several brokerages recently issued reports on PATH. Morgan Stanley raised 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. UBS Group assumed coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective for the company. 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 report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Barclays cut 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. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.44.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,227 shares of the business’s 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 transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the business’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 transaction, the chief accounting officer now owns 269,421 shares in the company, valued at $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. 22.37% of the stock is currently owned by company insiders.

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.