Zurcher Kantonalbank Zurich Cantonalbank Acquires 46,652 Shares of UiPath Inc. (NYSE:PATH)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of UiPath Inc. (NYSE:PATH) by 57.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,834 shares of the company’s stock after purchasing an additional 46,652 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in UiPath were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after purchasing an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after acquiring an additional 804 shares during the period. V Square Quantitative Management LLC lifted its holdings in UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after acquiring an additional 759 shares during the period. Quarry LP lifted its holdings in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after acquiring an additional 2,729 shares during the period. Finally, True Wealth Design LLC lifted its holdings in 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 owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PATH. Evercore ISI lowered their target price on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, March 13th. Morgan Stanley lowered their target price on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday, March 13th. Scotiabank reduced their price target on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. Finally, Mizuho reduced their price target on UiPath from $14.00 to $12.00 and set a “neutral” 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 assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.53.

UiPath Trading Down 0.8 %

NYSE:PATH opened at $10.80 on Tuesday. UiPath Inc. has a 12-month low of $9.50 and a 12-month high of $23.97. The stock has a 50-day moving average price of $13.30 and a 200 day moving average price of $13.14. The stock has a market capitalization of $5.93 billion, a P/E ratio of -67.47 and a beta of 1.00.

Insider Buying and Selling

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares in the company, valued at $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 is available through this link. Also, CFO Ashim Gupta sold 47,227 shares of the firm’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 transaction, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by company insiders.

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.