Merit Financial Group LLC Has $624,000 Holdings in UiPath Inc. (NYSE:PATH)

Merit Financial Group LLC lifted its position in UiPath Inc. (NYSE:PATH) by 183.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,105 shares of the company’s stock after acquiring an additional 31,755 shares during the quarter. Merit Financial Group LLC’s holdings in UiPath were worth $624,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board boosted its position in shares of UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after buying an additional 62,650 shares during the period. D.A. Davidson & CO. lifted its stake in UiPath by 60.1% in the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after acquiring an additional 209,300 shares in the last quarter. Stifel Financial Corp boosted its position in UiPath by 30.1% during the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after acquiring an additional 74,959 shares during the period. Senvest Management LLC grew its stake in UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after purchasing an additional 88,468 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Price Performance

UiPath stock opened at $13.45 on Thursday. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of -84.06 and a beta of 0.96. The firm has a fifty day moving average price of $13.57 and a two-hundred day moving average price of $12.79. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 269,421 shares in the company, 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 insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on PATH shares. Barclays decreased their price target on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. UBS Group began coverage on UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective for the company. Finally, BMO Capital Markets upped their target price on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.44.

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.