UiPath Inc. (NYSE:PATH) Stock Position Increased by State of Michigan Retirement System

State of Michigan Retirement System lifted its position in UiPath Inc. (NYSE:PATHFree Report) by 353.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 260,949 shares of the healthcare company’s stock after buying an additional 203,358 shares during the period. State of Michigan Retirement System’s holdings in UiPath were worth $6,482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of UiPath by 7.6% during the third quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock worth $645,916,000 after purchasing an additional 2,673,718 shares during the period. BlackRock Inc. raised its position in shares of UiPath by 32.1% during the second quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock worth $387,354,000 after purchasing an additional 5,681,577 shares during the period. FMR LLC raised its position in shares of UiPath by 2.9% during the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock worth $277,835,000 after purchasing an additional 463,032 shares during the period. Goldman Sachs Group Inc. raised its position in shares of UiPath by 37.4% during the second quarter. Goldman Sachs Group Inc. now owns 11,662,087 shares of the healthcare company’s stock worth $193,241,000 after purchasing an additional 3,172,300 shares during the period. Finally, Altimeter Capital Management LP raised its position in shares of UiPath by 175.4% during the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock worth $71,579,000 after purchasing an additional 5,270,194 shares during the period. Institutional investors own 62.50% of the company’s stock.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $23.02, for a total transaction of $1,611,400.00. Following the transaction, the chief financial officer now owns 788,148 shares of the company’s stock, valued at $18,143,166.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Rich Wong sold 200,000 shares of UiPath stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $23.12, for a total value of $4,624,000.00. Following the transaction, the director now owns 429,418 shares of the company’s stock, valued at $9,928,144.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ashim Gupta sold 70,000 shares of UiPath stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $23.02, for a total transaction of $1,611,400.00. Following the completion of the transaction, the chief financial officer now directly owns 788,148 shares in the company, valued at approximately $18,143,166.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,000 shares of company stock valued at $6,960,360. 31.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PATH has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their target price on UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, March 14th. Bank of America increased their price objective on UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Wells Fargo & Company increased their price objective on UiPath from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Evercore ISI upped their target price on UiPath from $24.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of UiPath in a report on Wednesday, March 20th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, UiPath currently has an average rating of “Hold” and an average price target of $27.44.

Check Out Our Latest Research Report on UiPath

UiPath Stock Performance

Shares of PATH opened at $21.55 on Thursday. The firm has a market cap of $12.20 billion, a PE ratio of -126.76 and a beta of 0.96. The firm’s 50 day moving average price is $23.57 and its 200 day moving average price is $21.17. UiPath Inc. has a twelve month low of $12.38 and a twelve month high of $27.87.

About UiPath

(Free Report)

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.

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Institutional Ownership by Quarter for UiPath (NYSE:PATH)

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