Mitsubishi UFJ Asset Management Co. Ltd. Purchases 45,558 Shares of UiPath Inc. (NYSE:PATH)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in UiPath Inc. (NYSE:PATH) by 859.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,858 shares of the company’s stock after buying an additional 45,558 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in UiPath were worth $675,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in shares of UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares during the period. 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 during the period. EverSource Wealth Advisors LLC grew its position in shares of UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after buying an additional 1,742 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares during the last quarter. Finally, Quarry LP raised its position in shares of UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after acquiring an additional 2,729 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction that occurred 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 owns 856,538 shares in the company, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was 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 of the company’s stock, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PATH has been the topic of several analyst reports. Evercore ISI reduced their target price on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, March 13th. Bank of America reaffirmed an “underperform” rating and issued a $10.00 price objective (down from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Wednesday, March 26th. Scotiabank cut their price target on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lifted their price objective on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.62.

UiPath Trading Up 3.0 %

NYSE PATH opened at $10.82 on Thursday. The company has a market cap of $5.97 billion, a P/E ratio of -67.63 and a beta of 1.00. The company has a fifty day simple moving average of $12.73 and a 200 day simple moving average of $13.00. UiPath Inc. has a 12-month low of $9.50 and a 12-month high of $22.11.

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.