Rockefeller Capital Management L.P. Decreases Stock Holdings in UiPath Inc. (NYSE:PATH)

Rockefeller Capital Management L.P. decreased its holdings in shares of UiPath Inc. (NYSE:PATH) by 53.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,552 shares of the company’s stock after selling 161,137 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in UiPath were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PATH. Norges Bank acquired a new stake in shares of UiPath in the fourth quarter valued at about $71,191,000. Trexquant Investment LP acquired a new position in shares of UiPath during the fourth quarter worth $15,611,000. Federated Hermes Inc. boosted its stake in shares of UiPath by 371.6% in the fourth quarter. Federated Hermes Inc. now owns 987,384 shares of the company’s stock valued at $12,550,000 after purchasing an additional 778,032 shares during the period. Neuberger Berman Group LLC grew its holdings in UiPath by 42.1% during the 4th quarter. Neuberger Berman Group LLC now owns 2,526,348 shares of the company’s stock valued at $32,113,000 after purchasing an additional 748,940 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in UiPath by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock worth $593,101,000 after buying an additional 576,458 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PATH has been the subject of a number of analyst reports. Scotiabank decreased their price objective on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Wednesday, March 26th. Wells Fargo & Company cut their target price on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Bank of America reissued an “underperform” rating and set a $10.00 price target (down previously from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $13.00 price objective on shares of UiPath in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, UiPath presently has an average rating of “Hold” and an average price target of $12.72.

UiPath Stock Performance

UiPath stock opened at $10.44 on Monday. UiPath Inc. has a one year low of $9.38 and a one year high of $20.95. The company has a 50-day simple moving average of $11.65 and a 200-day simple moving average of $12.80. The firm has a market capitalization of $5.76 billion, a P/E ratio of -65.25 and a beta of 1.04.

Insider Buying and Selling at UiPath

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the sale, the chief accounting officer now owns 314,891 shares of the company’s stock, valued at $3,208,739.29. The trade was a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.37% of the stock is currently owned by company insiders.

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.