Princeton Capital Management LLC Decreases Stake in UiPath Inc. (NYSE:PATH)

Princeton Capital Management LLC lowered its holdings in UiPath Inc. (NYSE:PATH) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,267 shares of the company’s stock after selling 6,588 shares during the quarter. Princeton Capital Management LLC’s holdings in UiPath were worth $270,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of UiPath by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock valued at $593,101,000 after purchasing an additional 576,458 shares during the period. Geode Capital Management LLC lifted its position in shares of UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after acquiring an additional 493,502 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after acquiring an additional 3,411,562 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in UiPath by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock worth $36,997,000 after purchasing an additional 291,171 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in UiPath by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company’s stock valued at $30,984,000 after acquiring an additional 66,100 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Stock Up 3.6 %

PATH stock opened at $11.20 on Tuesday. The stock’s 50 day moving average is $13.07 and its two-hundred day moving average is $13.07. UiPath Inc. has a 52-week low of $9.50 and a 52-week high of $23.35. The company has a market capitalization of $6.15 billion, a PE ratio of -69.97 and a beta of 1.00.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Thursday, March 13th. JPMorgan Chase & Co. boosted their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Evercore ISI decreased their price objective 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. Barclays cut their target price on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company reduced their price target on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.62.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.