American Century Companies Inc. Acquires 77,983 Shares of UiPath Inc. (NYSE:PATH)

American Century Companies Inc. increased its stake in UiPath Inc. (NYSE:PATH) by 103.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,191 shares of the company’s stock after purchasing an additional 77,983 shares during the period. American Century Companies Inc.’s holdings in UiPath were worth $1,947,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PATH. Jackson Creek Investment Advisors LLC purchased a new position in UiPath in the 4th quarter worth approximately $298,000. Stifel Financial Corp grew its position in UiPath by 30.1% in the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after acquiring an additional 74,959 shares in the last quarter. Principal Financial Group Inc. increased its stake in UiPath by 10.5% in the third 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. Geode Capital Management LLC raised its position in UiPath by 7.2% during the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after purchasing an additional 493,502 shares in the last quarter. Finally, ING Groep NV purchased a new stake in UiPath during the fourth quarter valued at about $3,120,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Price Performance

PATH opened at $9.88 on Wednesday. UiPath Inc. has a one year low of $9.38 and a one year high of $21.90. The business has a 50 day simple moving average of $12.30 and a two-hundred day simple moving average of $12.92. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of -61.72 and a beta of 1.04.

Insider Activity

In other news, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total transaction of $127,375.00. Following the sale, the chief accounting officer now owns 314,891 shares of the company’s stock, valued at approximately $3,208,739.29. The trade was a 3.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. UBS Group cut their price objective on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, March 13th. Bank of America reiterated an “underperform” rating and set a $10.00 price target (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Barclays lowered their price objective on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Mizuho reduced their target price on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, BMO Capital Markets decreased 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 issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.78.

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.