SoundView Advisors Inc. Purchases New Shares in UiPath Inc. (NYSE:PATH)

SoundView Advisors Inc. acquired a new position in shares of UiPath Inc. (NYSE:PATH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 89,406 shares of the company’s stock, valued at approximately $1,136,000. UiPath accounts for approximately 0.5% of SoundView Advisors Inc.’s holdings, making the stock its 22nd largest holding.

A number of other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of UiPath by 57.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 127,834 shares of the company’s stock worth $1,625,000 after buying an additional 46,652 shares during the period. AlphaQuest LLC lifted its position in shares of UiPath by 280.9% in the 4th quarter. AlphaQuest LLC now owns 105,722 shares of the company’s stock valued at $1,344,000 after acquiring an additional 77,966 shares in the last quarter. Amundi boosted its stake in UiPath by 32.1% in the 4th quarter. Amundi now owns 624,858 shares of the company’s stock worth $8,392,000 after purchasing an additional 151,945 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in UiPath during the 4th quarter worth approximately $298,000. Finally, Vestmark Advisory Solutions Inc. raised its stake in UiPath by 27.6% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 353,993 shares of the company’s stock valued at $4,499,000 after purchasing an additional 76,647 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was 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 owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were 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 approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

UiPath Stock Performance

PATH opened at $12.16 on Tuesday. The company has a market cap of $6.68 billion, a PE ratio of -75.97 and a beta of 1.00. The stock has a 50-day moving average of $13.50 and a 200-day moving average of $13.20. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $25.47.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Barclays decreased their price objective on UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of UiPath in a report on Friday, December 6th. Finally, UBS Group initiated coverage on shares of UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, UiPath has an average rating of “Hold” and a consensus price target of $17.44.

About UiPath

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.