Steel Peak Wealth Management LLC trimmed its stake in UiPath Inc. (NYSE:PATH – Get Rating) by 57.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,147 shares of the healthcare company’s stock after selling 19,056 shares during the period. Steel Peak Wealth Management LLC’s holdings in UiPath were worth $180,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of PATH. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of UiPath during the 3rd quarter valued at about $25,000. Quent Capital LLC bought a new position in shares of UiPath during the fourth quarter valued at approximately $41,000. American International Group Inc. acquired a new stake in UiPath in the second quarter valued at approximately $74,000. SRS Capital Advisors Inc. lifted its stake in shares of UiPath by 110.0% during the second quarter. SRS Capital Advisors Inc. now owns 4,636 shares of the healthcare company’s stock worth $84,000 after buying an additional 2,428 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new position in shares of UiPath during the first quarter worth $108,000. 56.40% of the stock is currently owned by hedge funds and other institutional investors.
UiPath Stock Performance
Shares of UiPath stock opened at $16.50 on Thursday. The company has a fifty day simple moving average of $15.76 and a 200-day simple moving average of $13.72. UiPath Inc. has a 12-month low of $10.40 and a 12-month high of $22.30.
Analyst Ratings Changes
A number of research firms have weighed in on PATH. BMO Capital Markets lifted their price objective on shares of UiPath from $16.00 to $20.00 in a report on Friday, March 17th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $27.50 price objective on shares of UiPath in a report on Friday, March 17th. Wells Fargo & Company lifted their price objective on shares of UiPath from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, March 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of UiPath in a report on Thursday, March 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, March 16th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.39.
Insider Activity
In related news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $16.61, for a total transaction of $664,400.00. Following the completion of the sale, the chief financial officer now owns 1,359,051 shares in the company, valued at approximately $22,573,837.11. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Hitesh Ramani sold 12,000 shares of the firm’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $17.01, for a total value of $204,120.00. Following the completion of the sale, the chief accounting officer now owns 407,349 shares in the company, valued at approximately $6,929,006.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $16.61, for a total transaction of $664,400.00. Following the completion of the transaction, the chief financial officer now owns 1,359,051 shares of the company’s stock, valued at approximately $22,573,837.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,000 shares of company stock worth $1,546,920. Corporate insiders own 31.88% of the company’s stock.
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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.
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