Erste Asset Management GmbH Decreases Stock Holdings in UiPath Inc. (NYSE:PATH)

Erste Asset Management GmbH cut its stake in UiPath Inc. (NYSE:PATH) by 18.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,048 shares of the company’s stock after selling 45,384 shares during the period. Erste Asset Management GmbH’s holdings in UiPath were worth $2,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in shares of UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after buying an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. grew its position in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after acquiring an additional 804 shares during the period. EverSource Wealth Advisors LLC increased its stake in UiPath by 141.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after acquiring an additional 1,742 shares during the last quarter. V Square Quantitative Management LLC raised its position 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 purchasing an additional 759 shares during the period. Finally, Quarry LP lifted its stake in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Canaccord Genuity Group cut their price objective on UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday. Scotiabank dropped their price target on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday. UBS Group decreased their price objective on shares of UiPath from $14.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday. Barclays dropped their target price on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Mizuho decreased their price target on UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.53.

UiPath Price Performance

UiPath stock opened at $10.84 on Friday. The stock has a market cap of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00. The stock’s fifty day moving average is $13.36 and its two-hundred day moving average is $13.15. UiPath Inc. has a 1-year low of $9.50 and a 1-year high of $23.97.

Insider Activity

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were 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 owns 269,421 shares in the company, valued at $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction dated 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. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

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.