Sumitomo Mitsui Trust Group Inc. Trims Stock Position in UiPath Inc. (NYSE:PATH)

Sumitomo Mitsui Trust Group Inc. lowered its stake in UiPath Inc. (NYSE:PATH) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,590,291 shares of the company’s stock after selling 1,579,445 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 2.29% of UiPath worth $160,023,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Senvest Management LLC increased its stake 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 buying an additional 1,559,500 shares during the period. Geode Capital Management LLC increased 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 worth $93,619,000 after acquiring an additional 493,502 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings 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 worth $51,539,000 after purchasing an additional 3,411,562 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in UiPath by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock valued at $36,997,000 after purchasing an additional 291,171 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new stake in UiPath in the 3rd quarter valued at approximately $19,071,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Ratings Changes

PATH has been the subject of a number of analyst reports. UBS Group began coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. Morgan Stanley increased their price target on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Wells Fargo & Company decreased their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report 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. Based on data from MarketBeat.com, UiPath presently has an average rating of “Hold” and an average price target of $17.44.

UiPath Price Performance

NYSE:PATH opened at $13.96 on Friday. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $27.87. The firm has a 50 day simple moving average of $13.76 and a 200-day simple moving average of $12.95. The firm has a market cap of $7.67 billion, a PE ratio of -87.22 and a beta of 0.98.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now 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 ownership of the stock. 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.