River Global Investors LLP Trims Position in UiPath Inc. (NYSE:PATH)

River Global Investors LLP lowered its position in shares of UiPath Inc. (NYSE:PATH) by 31.1% during the fourth quarter, Holdings Channel reports. The fund owned 114,035 shares of the company’s stock after selling 51,547 shares during the quarter. River Global Investors LLP’s holdings in UiPath were worth $1,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Senvest Management LLC boosted 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 worth $139,449,000 after purchasing an additional 1,559,500 shares during the last quarter. Geode Capital Management LLC boosted its stake in UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after buying an additional 493,502 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after buying an additional 3,411,562 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of UiPath by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock valued at $36,997,000 after acquiring an additional 291,171 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of UiPath by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company’s stock worth $30,984,000 after acquiring an additional 66,100 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group started coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Barclays lowered their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Finally, BMO Capital Markets raised their price objective on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, UiPath has a consensus rating of “Hold” and a consensus target price of $17.44.

Insiders Place Their Bets

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents 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 currently owned by company insiders.

UiPath Trading Up 5.1 %

NYSE PATH opened at $12.35 on Friday. The company’s fifty day simple moving average is $13.52 and its 200-day simple moving average is $13.18. The stock has a market cap of $6.78 billion, a P/E ratio of -77.16 and a beta of 1.00. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $25.47.

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.