The Manufacturers Life Insurance Company Lowers Holdings in UiPath Inc. (NYSE:PATH)

The Manufacturers Life Insurance Company trimmed its holdings in UiPath Inc. (NYSE:PATH) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 110,477 shares of the company’s stock after selling 3,687 shares during the period. The Manufacturers Life Insurance Company’s holdings in UiPath were worth $1,404,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its stake in UiPath by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock valued at $187,000 after buying an additional 736 shares in the last quarter. V Square Quantitative Management LLC raised its stake 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 buying an additional 759 shares in the last quarter. First Horizon Advisors Inc. raised its stake 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 buying an additional 804 shares in the last quarter. Amalgamated Bank raised its stake in UiPath by 3.1% in the fourth quarter. Amalgamated Bank now owns 28,148 shares of the company’s stock valued at $358,000 after buying an additional 836 shares in the last quarter. Finally, United Capital Financial Advisors LLC raised its stake in UiPath by 8.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company’s stock valued at $156,000 after buying an additional 971 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PATH. BMO Capital Markets cut their price target on UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a research note on Friday, March 14th. Evercore ISI cut their price target on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, March 13th. Scotiabank cut their price target on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 13th. UBS Group cut their price target on UiPath from $14.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, March 13th. Finally, Mizuho dropped their price objective on UiPath from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. 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 MarketBeat.com, UiPath presently has an average rating of “Hold” and an average price target of $12.72.

UiPath Stock Up 4.4%

NYSE PATH opened at $13.05 on Tuesday. UiPath Inc. has a 52-week low of $9.38 and a 52-week high of $20.95. The business’s 50-day moving average price is $11.10 and its 200 day moving average price is $12.70. The firm has a market cap of $7.20 billion, a P/E ratio of -81.58 and a beta of 1.01.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of UiPath stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total value of $1,186,527.95. Following the sale, the chief financial officer now owns 987,322 shares of the company’s stock, valued at approximately $11,857,737.22. The trade was a 9.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $127,375.00. Following the transaction, the chief accounting officer now owns 314,891 shares in the company, valued at $3,208,739.29. The trade was a 3.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

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.