Artisan Partners Limited Partnership Sells 802,532 Shares of UiPath Inc. (NYSE:PATH)

Artisan Partners Limited Partnership lessened its holdings in shares of UiPath Inc. (NYSE:PATH) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,618,429 shares of the company’s stock after selling 802,532 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.66% of UiPath worth $45,990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PATH. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in UiPath by 859.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,858 shares of the company’s stock worth $675,000 after buying an additional 45,558 shares in the last quarter. Horrell Capital Management Inc. raised its position in shares of UiPath by 25.9% in the 4th quarter. Horrell Capital Management Inc. now owns 365,000 shares of the company’s stock worth $4,639,000 after acquiring an additional 75,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of UiPath by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock valued at $593,101,000 after purchasing an additional 576,458 shares during the period. Stevens Capital Management LP bought a new stake in shares of UiPath during the fourth quarter valued at approximately $288,000. Finally, KLP Kapitalforvaltning AS bought a new position in UiPath in the fourth quarter worth $1,083,000. Institutional investors own 62.50% of the company’s stock.

UiPath Trading Down 1.7 %

Shares of PATH opened at $10.69 on Friday. The company’s fifty day simple moving average is $12.89 and its 200-day simple moving average is $13.03. The company has a market cap of $5.87 billion, a P/E ratio of -66.78 and a beta of 1.00. UiPath Inc. has a twelve month low of $9.50 and a twelve month high of $22.83.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PATH shares. Bank of America reissued an “underperform” rating and issued a $10.00 price objective (down previously from $18.00) on shares of UiPath in a report on Thursday, March 13th. Mizuho dropped their price target on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $13.00 price objective on shares of UiPath in a research note on Wednesday. Morgan Stanley lowered their target price on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, BMO Capital Markets reduced their price target on UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.62.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 269,421 shares in the company, 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 currently owned by insiders.

About UiPath

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.