Hitesh Ramani Sells 25,000 Shares of UiPath Inc. (NYSE:PATH) Stock

UiPath Inc. (NYSE:PATH) 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

UiPath Trading Down 4.5 %

Shares of NYSE:PATH opened at $13.19 on Wednesday. The firm has a 50 day simple moving average of $13.51 and a 200-day simple moving average of $12.75. The company has a market capitalization of $7.25 billion, a PE ratio of -82.44 and a beta of 0.96. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87.

Analysts Set New Price Targets

Several research firms have weighed in on PATH. UBS Group started coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Wells Fargo & Company reduced their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets boosted their price target on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Barclays increased their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.50.

Institutional Investors Weigh In On UiPath

A number of institutional investors and hedge funds have recently bought and sold shares of PATH. Commonwealth Equity Services LLC lifted its holdings in shares of UiPath by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 107,468 shares of the company’s stock valued at $1,363,000 after purchasing an additional 5,742 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of UiPath by 266.5% in the second quarter. Van ECK Associates Corp now owns 44,510 shares of the company’s stock valued at $564,000 after acquiring an additional 32,365 shares during the period. CIBC Asset Management Inc grew its position in shares of UiPath by 30.6% during the second quarter. CIBC Asset Management Inc now owns 13,564 shares of the company’s stock worth $172,000 after acquiring an additional 3,177 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of UiPath by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 511,011 shares of the company’s stock valued at $6,480,000 after acquiring an additional 12,836 shares during the period. Finally, TD Asset Management Inc raised its position in UiPath by 11.8% in the 2nd quarter. TD Asset Management Inc now owns 32,200 shares of the company’s stock valued at $408,000 after purchasing an additional 3,400 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Company 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.