KLP Kapitalforvaltning AS Invests $1.08 Million in UiPath Inc. (NYSE:PATH)

KLP Kapitalforvaltning AS acquired a new stake in shares of UiPath Inc. (NYSE:PATH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 85,200 shares of the company’s stock, valued at approximately $1,083,000.

Several other large investors also recently bought and sold shares of PATH. Jackson Creek Investment Advisors LLC purchased a new stake in shares of UiPath during the 4th quarter valued at about $298,000. Stifel Financial Corp lifted its position in UiPath by 30.1% during the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after purchasing an additional 74,959 shares during the period. Quantbot Technologies LP boosted its holdings in UiPath by 667.7% in the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after purchasing an additional 88,468 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the period. Finally, Principal Financial Group Inc. raised its stake in UiPath by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after buying an additional 3,477 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the business’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 sale, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value 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. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PATH has been the subject of several research analyst reports. BMO Capital Markets cut their price objective on UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a report on Friday, March 14th. UBS Group reduced their price target on shares of UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, March 13th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday, March 26th. Scotiabank reduced their target price on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a report on Thursday, March 13th. Finally, Canaccord Genuity Group dropped their price target on shares of UiPath from $19.00 to $14.00 and set a “buy” 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 assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.62.

UiPath Stock Down 1.7 %

NYSE PATH opened at $10.69 on Monday. UiPath Inc. has a twelve month low of $9.50 and a twelve month high of $22.83. The business has a 50-day moving average price of $12.89 and a 200-day moving average price of $13.04. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of -66.78 and a beta of 1.00.

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.