UiPath Inc. (NYSE:PATH) Stock Holdings Cut by Comerica Bank

Comerica Bank cut its stake in shares of UiPath Inc. (NYSE:PATH) by 59.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,894 shares of the company’s stock after selling 17,468 shares during the quarter. Comerica Bank’s holdings in UiPath were worth $151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after buying an additional 1,152 shares during the period. First Horizon Advisors Inc. boosted its position in shares of UiPath by 47.8% in the fourth 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 boosted its position in shares of UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after buying an additional 1,742 shares during the period. V Square Quantitative Management LLC boosted its position in shares of UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after buying an additional 759 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of UiPath in the fourth quarter worth $50,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

PATH has been the subject of several recent research reports. Evercore ISI cut their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, March 13th. Barclays cut their price objective on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Wednesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $13.00 price objective on shares of UiPath in a report on Wednesday, March 26th. Finally, Canaccord Genuity Group cut their price objective on UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, UiPath currently has a consensus rating of “Hold” and a consensus price target of $12.72.

UiPath Stock Down 1.2%

PATH stock opened at $12.92 on Friday. UiPath Inc. has a twelve month low of $9.38 and a twelve month high of $20.51. The company has a market cap of $7.12 billion, a PE ratio of -80.72 and a beta of 1.01. The business’s 50-day simple moving average is $11.19 and its 200 day simple moving average is $12.71.

Insider Buying and Selling

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction that occurred 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 directly owns 314,891 shares of the company’s stock, valued at approximately $3,208,739.29. The trade was a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ashim Gupta sold 98,795 shares of UiPath stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total value of $1,186,527.95. Following the sale, the chief financial officer now directly owns 987,322 shares in the company, valued at $11,857,737.22. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

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.