Avanza Fonder AB Acquires New Position in UiPath Inc. (NYSE:PATH)

Avanza Fonder AB bought a new position in shares of UiPath Inc. (NYSE:PATH) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 64,213 shares of the company’s stock, valued at approximately $816,000.

A number of other hedge funds also recently added to or reduced their stakes in PATH. Future Financial Wealth Managment LLC acquired a new stake in UiPath in the third quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of UiPath in the 3rd quarter valued at approximately $26,000. Quarry LP raised its holdings in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after purchasing an additional 2,274 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of UiPath by 21,710.0% during the third quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock worth $56,000 after purchasing an additional 4,342 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PATH. Wells Fargo & Company cut their target price 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. BMO Capital Markets boosted their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.44.

Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the sale, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This represents 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 owned by company insiders.

UiPath Trading Down 2.4 %

UiPath stock opened at $13.02 on Monday. The stock has a fifty day moving average price of $13.59 and a 200 day moving average price of $12.78. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The firm has a market capitalization of $7.16 billion, a P/E ratio of -81.40 and a beta of 0.96.

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.