Ashim Gupta Sells 47,227 Shares of UiPath Inc. (NYSE:PATH) Stock

UiPath Inc. (NYSE:PATH) CFO Ashim Gupta sold 47,227 shares of the company’s 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 completion of the sale, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

UiPath Stock Up 1.7 %

PATH opened at $13.43 on Thursday. The company has a market cap of $7.38 billion, a PE ratio of -83.94 and a beta of 0.96. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87. The company has a 50-day moving average price of $13.53 and a 200 day moving average price of $12.75.

Hedge Funds Weigh In On UiPath

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in UiPath by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 107,468 shares of the company’s stock valued at $1,363,000 after purchasing an additional 5,742 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of UiPath by 266.5% in the second quarter. Van ECK Associates Corp now owns 44,510 shares of the company’s stock worth $564,000 after buying an additional 32,365 shares in the last quarter. CIBC Asset Management Inc boosted its position in UiPath by 30.6% during the second quarter. CIBC Asset Management Inc now owns 13,564 shares of the company’s stock worth $172,000 after acquiring an additional 3,177 shares during the last quarter. Rhumbline Advisers grew its stake in UiPath by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 511,011 shares of the company’s stock valued at $6,480,000 after acquiring an additional 12,836 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in UiPath by 11.8% in the 2nd quarter. TD Asset Management Inc now owns 32,200 shares of the company’s stock valued at $408,000 after acquiring an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

PATH has been the topic of several recent research reports. BMO Capital Markets upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Wells Fargo & Company lowered their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Barclays upped their target price on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Finally, UBS Group assumed coverage on UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target for the company. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.50.

About UiPath

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.