UiPath Inc. (NYSE:PATH) is ARK Investment Management LLC’s 2nd Largest Position

ARK Investment Management LLC lowered its stake in shares of UiPath Inc. (NYSE:PATH) by 8.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 43,470,597 shares of the healthcare company’s stock after selling 3,855,679 shares during the period. UiPath comprises about 6.4% of ARK Investment Management LLC’s portfolio, making the stock its 2nd largest holding. ARK Investment Management LLC owned 7.68% of UiPath worth $1,079,810,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PATH. Raymond James Financial Services Advisors Inc. grew its position in shares of UiPath by 3.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company’s stock valued at $885,000 after acquiring an additional 1,506 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of UiPath during the 1st quarter valued at about $184,000. BlackRock Inc. grew its position in shares of UiPath by 1.9% during the 1st quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company’s stock valued at $114,786,000 after acquiring an additional 99,242 shares during the period. Dimensional Fund Advisors LP acquired a new stake in UiPath in the 1st quarter worth about $534,000. Finally, Canada Pension Plan Investment Board purchased a new stake in UiPath during the 1st quarter worth approximately $259,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PATH. BMO Capital Markets boosted their price objective on UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, March 14th. William Blair assumed coverage on UiPath in a research report on Tuesday, January 2nd. They issued an “outperform” rating for the company. Canaccord Genuity Group upped their price target on UiPath from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price target on shares of UiPath in a research report on Wednesday, March 20th. Finally, Scotiabank upped their price target on UiPath from $29.00 to $30.00 and gave the company a “sector perform” rating in a research report on Thursday, March 14th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.44.

UiPath Stock Performance

NYSE:PATH opened at $22.78 on Thursday. The stock’s fifty day moving average is $23.63 and its two-hundred day moving average is $21.03. UiPath Inc. has a 52 week low of $12.38 and a 52 week high of $27.87.

Insider Activity

In other news, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $22.47, for a total value of $359,520.00. Following the sale, the chief financial officer now directly owns 103,505 shares in the company, valued at $2,325,757.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other UiPath news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $22.47, for a total transaction of $359,520.00. Following the completion of the sale, the chief financial officer now directly owns 103,505 shares of the company’s stock, valued at approximately $2,325,757.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rich Wong sold 200,000 shares of UiPath stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $23.12, for a total value of $4,624,000.00. Following the sale, the director now directly owns 429,418 shares of the company’s stock, valued at $9,928,144.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 427,000 shares of company stock worth $9,784,110. Corporate insiders own 31.03% of the company’s stock.

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.