Fmr LLC Sells 17,420,860 Shares of UiPath Inc. (NYSE:PATH)

Fmr LLC trimmed its stake in shares of UiPath Inc. (NYSE:PATH) by 99.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,424 shares of the company’s stock after selling 17,420,860 shares during the quarter. Fmr LLC’s holdings in UiPath were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Ontario Teachers Pension Plan Board increased its position in shares of UiPath by 136.0% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after purchasing an additional 62,650 shares in the last quarter. D.A. Davidson & CO. grew its stake in UiPath by 60.1% during the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after buying an additional 209,300 shares during the last quarter. Senvest Management LLC increased its holdings in shares of UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of UiPath by 667.7% in the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after acquiring an additional 88,468 shares during the last quarter. Finally, LMR Partners LLP bought a new position in shares of UiPath in the third quarter valued at approximately $561,000. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PATH. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Evercore ISI upped their price target on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. TD Cowen lowered their price objective on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, Barclays upped their target price on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.50.

UiPath Stock Performance

Shares of UiPath stock opened at $12.97 on Thursday. The firm has a fifty day moving average of $13.41 and a two-hundred day moving average of $12.61. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of -81.06 and a beta of 0.94. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87.

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.