NewEdge Advisors LLC Purchases 1,003 Shares of UiPath Inc. (NYSE:PATH)

NewEdge Advisors LLC grew its holdings in shares of UiPath Inc. (NYSE:PATH) by 6.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,809 shares of the company’s stock after buying an additional 1,003 shares during the period. NewEdge Advisors LLC’s holdings in UiPath were worth $201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in UiPath by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after acquiring an additional 3,477 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of UiPath in the fourth quarter worth about $241,000. Diversified Trust Co purchased a new position in UiPath in the 4th quarter worth about $715,000. Claro Advisors LLC bought a new stake in UiPath during the 4th quarter valued at about $142,000. Finally, Pallas Capital Advisors LLC boosted its position in UiPath by 9.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 64,109 shares of the company’s stock valued at $815,000 after buying an additional 5,661 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction on Thursday, April 3rd. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 22.37% of the stock is currently owned by company insiders.

UiPath Stock Down 0.7 %

PATH opened at $11.86 on Friday. The company has a market cap of $6.54 billion, a P/E ratio of -74.11 and a beta of 1.04. The firm’s 50-day moving average price is $11.10 and its 200-day moving average price is $12.72. UiPath Inc. has a 52-week low of $9.38 and a 52-week high of $20.95.

Wall Street Analyst Weigh In

PATH has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $13.00 price target on shares of UiPath in a research note on Wednesday, March 26th. UBS Group lowered their target price on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, March 13th. Barclays cut their price target on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. 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. Finally, BMO Capital Markets cut their target price on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, UiPath currently has a consensus rating of “Hold” and a consensus target price of $12.72.

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.