UiPath Inc. (NYSE:PATH) Position Decreased by State Street Corp

State Street Corp reduced its holdings in UiPath Inc. (NYSE:PATH) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,408,940 shares of the company’s stock after selling 1,414,698 shares during the quarter. State Street Corp’s holdings in UiPath were worth $94,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp increased its holdings in shares of UiPath by 30.1% in the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after buying an additional 74,959 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of UiPath in the 3rd quarter valued at $154,000. Quarry LP increased its stake in UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares in the last quarter. Petrus Trust Company LTA acquired a new stake in UiPath during the 3rd quarter worth about $788,000. Finally, Invenomic Capital Management LP purchased a new stake in UiPath during the third quarter valued at about $4,546,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PATH. UBS Group initiated coverage on shares of UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target on the stock. Barclays boosted their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Morgan Stanley raised their target price on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Friday, December 6th. Finally, TD Cowen reduced their price objective on UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, September 6th. One investment 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.50.

UiPath Stock Up 0.3 %

NYSE PATH opened at $14.05 on Tuesday. The stock has a market capitalization of $7.72 billion, a PE ratio of -87.81 and a beta of 0.94. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $27.87. The company has a 50 day moving average price of $13.36 and a two-hundred day moving average price of $12.59.

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.