JPMorgan Chase & Co. Trims Position in UiPath Inc. (NYSE:PATH)

JPMorgan Chase & Co. reduced its stake in UiPath Inc. (NYSE:PATH) by 78.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 950,541 shares of the company’s stock after selling 3,551,243 shares during the period. JPMorgan Chase & Co.’s holdings in UiPath were worth $12,081,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PATH. Smartleaf Asset Management LLC grew its stake in UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after buying an additional 804 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after buying an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of UiPath in the fourth quarter valued at about $50,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at UiPath

In related news, CAO Hitesh Ramani sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the sale, the chief accounting officer now directly owns 314,891 shares in the company, valued at approximately $3,208,739.29. The trade was a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Evercore ISI dropped their target price on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, March 13th. Canaccord Genuity Group cut their price objective on shares of UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Scotiabank lowered their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a report on Thursday, March 13th. Wells Fargo & Company dropped their target price on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, Bank of America reissued an “underperform” rating and issued a $10.00 price target (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.78.

UiPath Price Performance

UiPath stock opened at $10.89 on Monday. UiPath Inc. has a 12 month low of $9.38 and a 12 month high of $20.95. The stock has a market capitalization of $6.00 billion, a PE ratio of -68.03 and a beta of 1.04. The business has a 50 day simple moving average of $12.03 and a 200-day simple moving average of $12.87.

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.