Zurcher Kantonalbank Zurich Cantonalbank Buys 46,652 Shares of UiPath Inc. (NYSE:PATH)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in UiPath Inc. (NYSE:PATH) by 57.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,834 shares of the company’s stock after purchasing an additional 46,652 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in UiPath were worth $1,625,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PATH. Amalgamated Bank lifted its stake in shares of UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock valued at $350,000 after purchasing an additional 1,811 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of UiPath by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after purchasing an additional 3,477 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of UiPath by 10.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock valued at $267,000 after purchasing an additional 1,995 shares during the last quarter. Quest Partners LLC lifted its stake in shares of UiPath by 181.4% during the 3rd quarter. Quest Partners LLC now owns 27,756 shares of the company’s stock worth $355,000 after acquiring an additional 17,893 shares during the last quarter. Finally, LMR Partners LLP bought a new stake in shares of UiPath during the 3rd quarter worth approximately $561,000. 62.50% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction on 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. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath 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 disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

UiPath Trading Down 0.8 %

Shares of NYSE:PATH opened at $10.80 on Tuesday. UiPath Inc. has a 12-month low of $9.50 and a 12-month high of $23.97. The business’s fifty day simple moving average is $13.30 and its 200-day simple moving average is $13.14. The company has a market capitalization of $5.93 billion, a PE ratio of -67.47 and a beta of 1.00.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PATH. Canaccord Genuity Group decreased their price target on UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Scotiabank decreased their price target on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. BMO Capital Markets decreased their price target on UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Thursday, March 13th. Finally, Mizuho decreased their price target on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.53.

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.