Edgestream Partners L.P. Lowers Stock Holdings in UiPath Inc. (NYSE:PATH)

Edgestream Partners L.P. decreased its position in shares of UiPath Inc. (NYSE:PATH) by 51.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 194,803 shares of the company’s stock after selling 205,191 shares during the period. Edgestream Partners L.P.’s holdings in UiPath were worth $2,476,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PATH. Jacobs Levy Equity Management Inc. raised its position in UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after purchasing an additional 3,411,562 shares in the last quarter. Senvest Management LLC raised 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 valued at $139,449,000 after purchasing an additional 1,559,500 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of UiPath during the third quarter valued at about $19,071,000. Geode Capital Management LLC grew its stake in shares of UiPath by 7.2% during the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after buying an additional 493,502 shares during the last quarter. Finally, Washington Harbour Partners LP bought a new position in shares of UiPath during the third quarter valued at about $5,684,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Wednesday, January 15th. Barclays reduced their price objective on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Morgan Stanley raised their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets raised their target price on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, UiPath presently has a consensus rating of “Hold” and a consensus price target of $17.44.

UiPath Stock Performance

PATH stock opened at $12.35 on Monday. The firm has a 50 day moving average price of $13.51 and a 200-day moving average price of $13.20. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $25.47. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of -77.16 and a beta of 1.00.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction that occurred 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 owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

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.