Trexquant Investment LP Purchases New Shares in UiPath Inc. (NYSE:PATH)

Trexquant Investment LP purchased a new position in UiPath Inc. (NYSE:PATH) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,228,274 shares of the company’s stock, valued at approximately $15,611,000. Trexquant Investment LP owned approximately 0.22% of UiPath at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of UiPath by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock valued at $187,000 after purchasing an additional 736 shares during the last quarter. V Square Quantitative Management LLC increased its stake in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after buying an additional 759 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after acquiring an additional 804 shares during the period. Amalgamated Bank boosted its position in shares of UiPath by 3.1% during the fourth quarter. Amalgamated Bank now owns 28,148 shares of the company’s stock worth $358,000 after acquiring an additional 836 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after buying an additional 1,152 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Price Performance

NYSE:PATH opened at $10.50 on Wednesday. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -65.64 and a beta of 1.00. The firm’s fifty day moving average price is $12.78 and its 200 day moving average price is $13.02. UiPath Inc. has a 1-year low of $9.50 and a 1-year high of $22.11.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PATH. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Wednesday, March 26th. UBS Group decreased their price target on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, March 13th. Scotiabank cut their price objective on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. increased their target price on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Bank of America reiterated an “underperform” rating and issued a $10.00 price target (down previously from $18.00) on shares of UiPath in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.62.

Insider Activity at UiPath

In other UiPath news, 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 transaction of $326,250.00. Following the sale, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on 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. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

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.