UiPath Inc. (NYSE:PATH) CAO Hitesh Ramani Sells 25,000 Shares

UiPath Inc. (NYSE:PATH) CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

UiPath Stock Down 4.5 %

NYSE:PATH opened at $13.19 on Wednesday. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87. The stock has a fifty day simple moving average of $13.51 and a 200-day simple moving average of $12.75. The company has a market capitalization of $7.25 billion, a PE ratio of -82.44 and a beta of 0.96.

Analysts Set New Price Targets

PATH has been the subject of several recent research reports. Morgan Stanley increased their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. UBS Group assumed coverage on shares of UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, UiPath presently has a consensus rating of “Hold” and an average price target of $17.50.

Hedge Funds Weigh In On UiPath

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PATH. Pacer Advisors Inc. acquired a new stake in shares of UiPath in the second quarter valued at approximately $69,180,000. Jacobs Levy Equity Management Inc. grew its holdings in UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after buying an additional 3,411,562 shares during the last quarter. Senvest Management LLC increased its position in UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of UiPath in the third quarter worth $19,071,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of UiPath in the second quarter valued at $13,280,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.