Washington Capital Management Inc. Takes $432,000 Position in UiPath Inc. (NYSE:PATH)

Washington Capital Management Inc. bought a new stake in UiPath Inc. (NYSE:PATH) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 34,000 shares of the company’s stock, valued at approximately $432,000.

Several other institutional investors also recently bought and sold shares of PATH. Future Financial Wealth Managment LLC bought a new stake in UiPath in the third quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in UiPath during the 3rd quarter valued at $26,000. Quarry LP boosted its position in UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after buying an additional 2,729 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after acquiring an additional 2,274 shares during the last quarter. Finally, True Wealth Design LLC increased its position in shares of UiPath by 21,710.0% in the third quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock valued at $56,000 after acquiring an additional 4,342 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Stock Down 5.2 %

PATH stock opened at $14.40 on Thursday. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87. The business has a 50 day moving average of $13.73 and a 200 day moving average of $12.86.

Analysts Set New Price Targets

PATH has been the topic of several recent analyst reports. Barclays cut their target price on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. BMO Capital Markets upped their target price on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the 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 sale, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents 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.

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.