Ameriprise Financial Inc. Increases Stake in UiPath Inc. (NYSE:PATH)

Ameriprise Financial Inc. boosted its position in shares of UiPath Inc. (NYSE:PATH) by 15.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 471,346 shares of the company’s stock after purchasing an additional 64,141 shares during the quarter. Ameriprise Financial Inc. owned about 0.09% of UiPath worth $5,990,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of UiPath in the 4th quarter worth approximately $71,191,000. Senvest Management LLC lifted its stake in shares of UiPath by 29.2% in the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock worth $178,890,000 after purchasing an additional 3,180,300 shares during the period. AQR Capital Management LLC lifted its stake in shares of UiPath by 45.3% in the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock worth $84,209,000 after purchasing an additional 2,072,089 shares during the period. Marshall Wace LLP lifted its stake in shares of UiPath by 111.8% in the 4th quarter. Marshall Wace LLP now owns 2,456,102 shares of the company’s stock worth $31,217,000 after purchasing an additional 1,296,382 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of UiPath in the 4th quarter worth approximately $15,611,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 98,795 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 987,322 shares of the company’s stock, valued at approximately $11,857,737.22. This trade represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Hitesh Ramani sold 12,500 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 314,891 shares of the company’s stock, valued at approximately $3,208,739.29. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.19% of the stock is currently owned by insiders.

UiPath Price Performance

UiPath stock opened at $12.39 on Friday. The stock has a market cap of $6.83 billion, a P/E ratio of -77.44 and a beta of 1.01. UiPath Inc. has a 1 year low of $9.38 and a 1 year high of $19.16. The firm’s 50 day moving average price is $11.34 and its 200-day moving average price is $12.71.

Wall Street Analysts Forecast Growth

PATH has been the topic of several recent research reports. Bank of America reiterated an “underperform” rating and issued a $10.00 price objective (down previously from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Scotiabank decreased their target price on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 13th. Evercore ISI decreased their target price on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets decreased their target price on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a research note on Friday, March 14th. Finally, Canaccord Genuity Group decreased their target price 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 equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.72.

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.