245,500 Shares in UiPath Inc. (NYSE:PATH) Acquired by ING Groep NV

ING Groep NV purchased a new stake in shares of UiPath Inc. (NYSE:PATH) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 245,500 shares of the company’s stock, valued at approximately $3,120,000.

Several other hedge funds also recently modified their holdings of PATH. Handelsbanken Fonder AB boosted its stake in UiPath by 32.3% during the fourth quarter. Handelsbanken Fonder AB now owns 103,700 shares of the company’s stock valued at $1,318,000 after buying an additional 25,300 shares in the last quarter. Ieq Capital LLC lifted its holdings in UiPath by 29.7% in the 4th quarter. Ieq Capital LLC now owns 1,885,904 shares of the company’s stock valued at $23,970,000 after acquiring an additional 431,451 shares during the last quarter. Truist Financial Corp bought a new position in shares of UiPath during the 4th quarter valued at about $307,000. CIBC Asset Management Inc raised its holdings in shares of UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after purchasing an additional 736 shares in the last quarter. Finally, Capital Performance Advisors LLP raised its holdings in shares of UiPath by 146.4% in the 4th quarter. Capital Performance Advisors LLP now owns 12,429 shares of the company’s stock worth $158,000 after purchasing an additional 7,384 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Trading Down 5.2 %

PATH opened at $13.44 on Friday. The stock has a fifty day moving average price of $13.70 and a 200 day moving average price of $13.14. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $25.47. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of -83.97 and a beta of 0.98.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PATH. BMO Capital Markets lifted their price target on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Barclays reduced their target price on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Morgan Stanley lifted their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price objective on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.44.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.37% 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, 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.