ARK Investment Management LLC Sells 1,347,073 Shares of UiPath Inc. (NYSE:PATH)

ARK Investment Management LLC lowered its stake in shares of UiPath Inc. (NYSE:PATH) by 6.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,602,729 shares of the company’s stock after selling 1,347,073 shares during the quarter. UiPath accounts for 2.1% of ARK Investment Management LLC’s holdings, making the stock its 14th biggest holding. ARK Investment Management LLC owned approximately 3.57% of UiPath worth $249,151,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Ontario Teachers Pension Plan Board increased its position in shares of UiPath by 136.0% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after purchasing an additional 62,650 shares during the last quarter. D.A. Davidson & CO. grew its position in UiPath by 60.1% in the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after acquiring an additional 209,300 shares during the last quarter. Stifel Financial Corp grew its position in UiPath by 30.1% in the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after acquiring an additional 74,959 shares during the last quarter. Senvest Management LLC grew its position in UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after acquiring an additional 88,468 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays cut their price objective on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. UBS Group assumed coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research report on Friday, December 6th. Morgan Stanley upped their price objective on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Price Performance

Shares of NYSE PATH opened at $12.65 on Wednesday. The stock has a market capitalization of $6.95 billion, a P/E ratio of -79.03 and a beta of 0.98. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $25.47. The business has a fifty day moving average price of $13.66 and a 200 day moving average price of $13.18.

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.