Horrell Capital Management Inc. Purchases 75,000 Shares of UiPath Inc. (NYSE:PATH)

Horrell Capital Management Inc. lifted its position in shares of UiPath Inc. (NYSE:PATH) by 25.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 365,000 shares of the company’s stock after purchasing an additional 75,000 shares during the quarter. UiPath accounts for about 1.4% of Horrell Capital Management Inc.’s holdings, making the stock its 26th largest holding. Horrell Capital Management Inc.’s holdings in UiPath were worth $4,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in UiPath by 10.5% in the third quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock worth $470,000 after purchasing an additional 3,477 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in UiPath by 10.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock valued at $267,000 after acquiring an additional 1,995 shares during the period. Quest Partners LLC grew its position in UiPath by 181.4% during the 3rd quarter. Quest Partners LLC now owns 27,756 shares of the company’s stock worth $355,000 after acquiring an additional 17,893 shares during the last quarter. Pathstone Holdings LLC increased its stake in UiPath by 8.0% in the 3rd quarter. Pathstone Holdings LLC now owns 153,617 shares of the company’s stock worth $1,966,000 after purchasing an additional 11,427 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in UiPath by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock valued at $36,997,000 after purchasing an additional 291,171 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PATH. UBS Group cut their target price on shares of UiPath from $14.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday, March 13th. Evercore ISI cut their price target on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, March 13th. BMO Capital Markets lowered their price objective on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research note on Friday, March 14th. Barclays cut their target price on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Canaccord Genuity Group lowered their price target on UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.62.

Insiders Place Their Bets

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction 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 $11,186,386.28. The trade was a 5.23 % 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 Price Performance

Shares of UiPath stock opened at $10.81 on Monday. UiPath Inc. has a 1 year low of $9.50 and a 1 year high of $23.35. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of -67.53 and a beta of 1.00. The company has a 50-day moving average of $13.10 and a 200 day moving average of $13.08.

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.