Graham Capital Management L.P. Sells 92,242 Shares of UiPath Inc. (NYSE:PATH)

Graham Capital Management L.P. lessened its holdings in UiPath Inc. (NYSE:PATH) by 23.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 297,934 shares of the company’s stock after selling 92,242 shares during the period. Graham Capital Management L.P. owned about 0.05% of UiPath worth $3,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in UiPath by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after buying an additional 736 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares during the last quarter. First Horizon Advisors Inc. grew its stake in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after purchasing an additional 804 shares during the last quarter. Amalgamated Bank raised its holdings in UiPath by 3.1% in the fourth quarter. Amalgamated Bank now owns 28,148 shares of the company’s stock worth $358,000 after purchasing an additional 836 shares in the last quarter. Finally, United Capital Financial Advisors LLC lifted its position in shares of UiPath by 8.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company’s stock valued at $156,000 after buying an additional 971 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 completion of the transaction, the chief accounting officer now directly owns 314,891 shares in the company, valued at approximately $3,208,739.29. This trade represents a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total value of $1,186,527.95. Following the completion of the sale, the chief financial officer now owns 987,322 shares in the company, valued at approximately $11,857,737.22. This represents a 9.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

UiPath Price Performance

NYSE PATH opened at $12.50 on Friday. UiPath Inc. has a 1 year low of $9.38 and a 1 year high of $20.95. The company has a market capitalization of $6.89 billion, a PE ratio of -78.13 and a beta of 1.01. The company has a fifty day moving average of $11.08 and a 200 day moving average of $12.70.

Wall Street Analyst Weigh In

PATH has been the subject of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research note on Friday, March 14th. Bank of America reaffirmed an “underperform” rating and set a $10.00 price target (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Scotiabank lowered their price objective on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. Mizuho reduced their target price on UiPath from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, UiPath has a consensus rating of “Hold” and an average target price of $12.72.

UiPath 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.