UiPath Inc. (NYSE:PATH) Holdings Cut by Lazard Asset Management LLC

Lazard Asset Management LLC cut its stake in shares of UiPath Inc. (NYSE:PATH) by 35.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,476 shares of the company’s stock after selling 3,489 shares during the quarter. Lazard Asset Management LLC’s holdings in UiPath were worth $82,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PATH. SG Americas Securities LLC raised its stake in shares of UiPath by 76.0% during the fourth quarter. SG Americas Securities LLC now owns 236,887 shares of the company’s stock valued at $3,011,000 after purchasing an additional 102,258 shares in the last quarter. Juncture Wealth Strategies LLC purchased a new position in UiPath during the 4th quarter worth approximately $137,000. Archford Capital Strategies LLC raised its stake in UiPath by 112.0% during the 4th quarter. Archford Capital Strategies LLC now owns 58,624 shares of the company’s stock valued at $745,000 after purchasing an additional 30,973 shares during the period. Pacer Advisors Inc. boosted its position in UiPath by 698.1% during the 4th quarter. Pacer Advisors Inc. now owns 289,471 shares of the company’s stock worth $3,679,000 after acquiring an additional 253,203 shares during the period. Finally, Perigon Wealth Management LLC purchased a new position in UiPath during the 4th quarter valued at about $145,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Stock Performance

UiPath stock opened at $12.39 on Monday. UiPath Inc. has a 52 week low of $9.38 and a 52 week high of $19.09. The firm has a market capitalization of $6.83 billion, a PE ratio of -77.44 and a beta of 1.01. The business’s 50-day simple moving average is $11.34 and its 200-day simple moving average is $12.70.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the company’s stock in a transaction dated 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 owns 314,891 shares of the company’s stock, valued at approximately $3,208,739.29. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 98,795 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the sale, the chief financial officer now owns 987,322 shares of the company’s stock, valued at approximately $11,857,737.22. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PATH shares. Canaccord Genuity Group decreased their price target on shares of UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Evercore ISI lowered their price target on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, March 13th. Mizuho cut their price objective on UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. BMO Capital Markets lowered their target price on 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, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $13.00 price target 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.72.

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.