Geode Capital Management LLC Purchases 493,502 Shares of UiPath Inc. (NYSE:PATH)

Geode Capital Management LLC increased its holdings in shares of UiPath Inc. (NYSE:PATH) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,312,068 shares of the company’s stock after buying an additional 493,502 shares during the quarter. Geode Capital Management LLC owned 1.33% of UiPath worth $93,619,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new stake in UiPath in the second quarter valued at $69,180,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of UiPath by 554.8% in 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 buying an additional 3,411,562 shares in the last quarter. Senvest Management LLC boosted its stake in UiPath by 16.7% during the 3rd 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 during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in UiPath during the third quarter worth $19,071,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of UiPath in the second quarter valued at about $13,280,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Price Performance

Shares of NYSE:PATH opened at $12.74 on Friday. The stock’s 50-day moving average is $13.41 and its 200 day moving average is $12.61. The company has a market cap of $7.00 billion, a PE ratio of -79.63 and a beta of 0.94. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $27.87.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays increased their price target on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. UBS Group assumed coverage on shares of UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 target price on the stock. Bank of America increased their price target on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company lowered their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Morgan Stanley lifted their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.50.

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.