UiPath Inc. (NYSE:PATH) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. trimmed its stake in shares of UiPath Inc. (NYSE:PATH) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,590,291 shares of the company’s stock after selling 1,579,445 shares during the quarter. UiPath comprises 1.7% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 15th largest position. Nikko Asset Management Americas Inc. owned approximately 2.29% of UiPath worth $160,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PATH. CIBC Asset Management Inc boosted its position in shares of UiPath by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after buying an additional 736 shares during the period. V Square Quantitative Management LLC boosted its holdings in 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 purchasing an additional 759 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in UiPath by 47.8% during 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 in the last quarter. Amalgamated Bank raised its position in shares of UiPath by 3.1% during the 4th quarter. Amalgamated Bank now owns 28,148 shares of the company’s stock valued at $358,000 after acquiring an additional 836 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after buying an additional 1,152 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Trading Up 8.8 %

Shares of PATH opened at $10.84 on Monday. UiPath Inc. has a twelve month low of $9.50 and a twelve month high of $23.97. The company has a market cap of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00. The company’s fifty day simple moving average is $13.36 and its 200-day simple moving average is $13.15.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group reduced their target price on shares of UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday. Barclays lowered their price target on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their target price on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday. BMO Capital Markets lowered their target price on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a report on Friday. Finally, Evercore ISI cut their target price on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday. 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. Based on data from MarketBeat.com, UiPath has an average rating of “Hold” and an average target price of $14.53.

Insider Buying and Selling

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

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.