UiPath Inc. (NYSE:PATH) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its stake in UiPath Inc. (NYSE:PATH) by 9.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,303,207 shares of the company’s stock after purchasing an additional 208,307 shares during the quarter. Northern Trust Corp’s holdings in UiPath were worth $29,274,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PATH. Norges Bank acquired a new stake in UiPath during the 4th quarter valued at approximately $71,191,000. Senvest Management LLC grew its stake in UiPath by 29.2% during the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock valued at $178,890,000 after purchasing an additional 3,180,300 shares in the last quarter. Marshall Wace LLP grew its stake in UiPath by 111.8% during the 4th quarter. Marshall Wace LLP now owns 2,456,102 shares of the company’s stock valued at $31,217,000 after purchasing an additional 1,296,382 shares in the last quarter. Trexquant Investment LP acquired a new stake in UiPath during the 4th quarter valued at approximately $15,611,000. Finally, Federated Hermes Inc. grew its stake in UiPath by 371.6% during the 4th quarter. Federated Hermes Inc. now owns 987,384 shares of the company’s stock valued at $12,550,000 after purchasing an additional 778,032 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Price Performance

NYSE:PATH opened at $12.50 on Monday. UiPath Inc. has a 12-month low of $9.38 and a 12-month high of $20.95. The firm has a market capitalization of $6.89 billion, a P/E ratio of -78.13 and a beta of 1.01. The business has a 50 day simple moving average of $11.08 and a 200 day simple moving average of $12.70.

Insider Activity at UiPath

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of the business’s stock in a transaction 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 owns 314,891 shares in the company, valued at approximately $3,208,739.29. The trade was a 3.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 98,795 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 987,322 shares of the company’s stock, valued at $11,857,737.22. This trade 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.

Analysts Set New Price Targets

PATH has been the subject of a number of recent analyst reports. Mizuho lowered their price objective on UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. BMO Capital Markets lowered their price objective on UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research note on Friday, March 14th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Wednesday, March 26th. Scotiabank reduced their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley lowered their price target on UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, UiPath currently has a consensus rating of “Hold” and an average target price of $12.72.

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.