Raymond James Financial Inc. Makes New Investment in UiPath Inc. (NYSE:PATH)

Raymond James Financial Inc. bought a new stake in UiPath Inc. (NYSE:PATH) during the 4th quarter, HoldingsChannel reports. The fund bought 433,165 shares of the company’s stock, valued at approximately $5,506,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PATH. Jacobs Levy Equity Management Inc. boosted its holdings in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after purchasing an additional 3,411,562 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of UiPath in the 3rd quarter valued at approximately $19,071,000. Geode Capital Management LLC boosted its stake in shares of UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after buying an additional 493,502 shares in the last quarter. Washington Harbour Partners LP acquired a new position in UiPath during the third quarter worth $5,684,000. Finally, Ieq Capital LLC grew its holdings in UiPath by 29.7% during the fourth quarter. Ieq Capital LLC now owns 1,885,904 shares of the company’s stock worth $23,970,000 after acquiring an additional 431,451 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on PATH. Bank of America reissued an “underperform” rating and issued a $10.00 target price (down previously from $18.00) on shares of UiPath in a report on Thursday, March 13th. Royal Bank of Canada decreased their price objective on shares of UiPath from $16.00 to $13.00 and set a “sector perform” rating on the stock in a report on Thursday, March 13th. Mizuho dropped their target price on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Morgan Stanley reduced their price target on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Canaccord Genuity Group lowered their price target on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a 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 given a buy rating to the stock. Based on data from MarketBeat.com, UiPath has an average rating of “Hold” and an average target price of $13.62.

Insider Activity at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

UiPath Stock Performance

UiPath stock opened at $11.20 on Tuesday. UiPath Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $23.35. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of -69.97 and a beta of 1.00. The stock has a fifty day moving average of $13.07 and a two-hundred day moving average of $13.07.

UiPath 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.