Acadian Asset Management LLC lifted its stake in shares of UiPath, Inc. (NYSE:PATH – Free Report) by 51.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,432,985 shares of the company’s stock after acquiring an additional 2,191,938 shares during the period. Acadian Asset Management LLC owned approximately 1.20% of UiPath worth $82,322,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AdvisorNet Financial Inc lifted its position in UiPath by 320.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company’s stock worth $32,000 after buying an additional 1,887 shares in the last quarter. GAMMA Investing LLC increased its position in shares of UiPath by 48.0% in the second quarter. GAMMA Investing LLC now owns 2,989 shares of the company’s stock valued at $38,000 after acquiring an additional 969 shares during the last quarter. IFP Advisors Inc raised its holdings in UiPath by 508.0% during the second quarter. IFP Advisors Inc now owns 3,283 shares of the company’s stock worth $42,000 after acquiring an additional 2,743 shares in the last quarter. Bayforest Capital Ltd boosted its position in UiPath by 852.4% during the second quarter. Bayforest Capital Ltd now owns 4,143 shares of the company’s stock valued at $53,000 after purchasing an additional 3,708 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in UiPath in the second quarter valued at approximately $55,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.
UiPath Stock Performance
NYSE:PATH opened at $14.32 on Monday. The stock has a fifty day moving average price of $13.91 and a 200-day moving average price of $12.79. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 477.17, a PEG ratio of 5.29 and a beta of 1.09. UiPath, Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $18.74.
Insider Transactions at UiPath
In other UiPath news, CEO Daniel Dines sold 122,734 shares of UiPath stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $14.89, for a total value of $1,827,509.26. Following the completion of the sale, the chief executive officer directly owned 613,670 shares of the company’s stock, valued at approximately $9,137,546.30. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 240,874 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $17.28, for a total transaction of $4,162,302.72. Following the completion of the sale, the chief financial officer owned 696,117 shares in the company, valued at $12,028,901.76. This represents a 25.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,319,002 shares of company stock worth $34,094,875 over the last three months. 23.19% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities analysts recently commented on PATH shares. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Friday, September 5th. Zacks Research cut UiPath from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. DA Davidson started coverage on UiPath in a research note on Friday, September 5th. They set a “neutral” rating and a $12.00 target price for the company. Cowen reissued a “hold” rating on shares of UiPath in a report on Friday, September 5th. Finally, Truist Financial cut their price target on UiPath from $13.00 to $12.00 and set a “hold” rating for the company in a report on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.71.
Check Out Our Latest Research Report on UiPath
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.
Further Reading
- Five stocks we like better than UiPath
- Investing in the High PE Growth Stocks
- 3 Big Earnings Misses: Is It Time to Buy the Dip?
- Investing in Travel Stocks Benefits
- Is Robinhood’s 11% Post-Earnings Fall a Buy-the-Dip Opportunity?
- What Are Dividend Challengers?
- AI Demand Is Coming—Is Microchip Technology Ready?
Receive News & Ratings for UiPath Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UiPath and related companies with MarketBeat.com's FREE daily email newsletter.
