Franklin Resources Inc. Decreases Stake in UiPath Inc. (NYSE:PATH)

Franklin Resources Inc. lessened its holdings in shares of UiPath Inc. (NYSE:PATH) by 25.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,160 shares of the company’s stock after selling 3,395 shares during the period. Franklin Resources Inc.’s holdings in UiPath were worth $129,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Sanctuary Advisors LLC boosted its stake in UiPath by 236.0% during the third quarter. Sanctuary Advisors LLC now owns 41,098 shares of the company’s stock worth $526,000 after buying an additional 28,865 shares during the last quarter. Geode Capital Management LLC raised its stake in 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 purchasing an additional 493,502 shares during the period. M&T Bank Corp boosted its holdings in UiPath by 60.1% in the 3rd quarter. M&T Bank Corp now owns 31,791 shares of the company’s stock valued at $407,000 after purchasing an additional 11,940 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of UiPath by 61.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 240,123 shares of the company’s stock valued at $3,074,000 after buying an additional 91,788 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of UiPath during the 3rd quarter worth approximately $1,483,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Stock Performance

Shares of PATH opened at $12.93 on Friday. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -80.81 and a beta of 0.94. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The firm has a 50-day simple moving average of $13.46 and a 200-day simple moving average of $12.69.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America upped their price objective on UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, September 6th. DA Davidson increased their price target on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Thursday, December 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. Finally, BMO Capital Markets upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. One equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.50.

UiPath Company 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.