Mirae Asset Global Investments Co. Ltd. Cuts Stock Position in UiPath Inc. (NYSE:PATH)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of UiPath Inc. (NYSE:PATH) by 6.0% in the 4th quarter, HoldingsChannel reports. The firm owned 65,686 shares of the company’s stock after selling 4,196 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in UiPath were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Cowa LLC grew its position in UiPath by 4.4% during the third quarter. Cowa LLC now owns 26,681 shares of the company’s stock valued at $342,000 after buying an additional 1,118 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in UiPath by 6.8% in the third quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock valued at $334,000 after acquiring an additional 1,654 shares during the last quarter. Amalgamated Bank grew its position in shares of UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock valued at $350,000 after acquiring an additional 1,811 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of UiPath by 10.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock worth $267,000 after purchasing an additional 1,995 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in UiPath in the third quarter valued at approximately $26,000. 62.50% of the stock is currently owned by institutional investors.

UiPath Stock Performance

NYSE:PATH opened at $13.96 on Wednesday. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87. The stock has a fifty day moving average of $13.74 and a 200 day moving average of $12.99. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of -87.25 and a beta of 0.98.

Analyst Ratings Changes

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

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction 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 trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $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. Insiders own 22.37% of the company’s stock.

UiPath Company 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.