UiPath Inc. (NYSE:PATH) CAO Hitesh Ramani Sells 12,500 Shares

UiPath Inc. (NYSE:PATH) CAO Hitesh Ramani sold 12,500 shares of the firm’s stock in a transaction that occurred 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 owns 314,891 shares of the company’s stock, valued at $3,208,739.29. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

UiPath Stock Up 12.4 %

Shares of NYSE PATH opened at $11.09 on Thursday. UiPath Inc. has a 52 week low of $9.38 and a 52 week high of $21.66. The firm’s fifty day moving average is $12.17 and its 200 day moving average is $12.89. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -69.31 and a beta of 1.04.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PATH. Barclays lowered their target price on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Evercore ISI lowered 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 lowered 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. Mizuho lowered their target price on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group lowered their target price on shares of UiPath from $14.00 to $10.00 and set a “sell” 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 given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.78.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PATH. Norges Bank purchased a new position in shares of UiPath in the fourth quarter worth $71,191,000. Senvest Management LLC increased its stake in shares of UiPath by 29.2% in the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock worth $178,890,000 after buying an additional 3,180,300 shares during the period. AQR Capital Management LLC increased its stake in shares of UiPath by 45.3% in the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock worth $84,209,000 after buying an additional 2,072,089 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in UiPath by 35.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company’s stock valued at $69,385,000 after acquiring an additional 1,432,569 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in UiPath by 111.8% in the fourth quarter. Marshall Wace LLP now owns 2,456,102 shares of the company’s stock valued at $31,217,000 after acquiring an additional 1,296,382 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.