Parallel Advisors LLC Lowers Position in UiPath Inc. (NYSE:PATH)

Parallel Advisors LLC cut its holdings in shares of UiPath Inc. (NYSE:PATH) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,694 shares of the company’s stock after selling 3,594 shares during the quarter. Parallel Advisors LLC’s holdings in UiPath were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PATH. Smartleaf Asset Management LLC grew its holdings in shares of UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares during the period. First Horizon Advisors Inc. lifted its stake in UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after acquiring an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after acquiring an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after acquiring an additional 759 shares in the last quarter. Finally, Quarry LP lifted its stake in UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after acquiring an additional 2,729 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Mizuho decreased their target price on UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Evercore ISI decreased their target price on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. increased their target price on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets reduced their price target on UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.53.

UiPath Stock Performance

PATH opened at $10.82 on Thursday. UiPath Inc. has a one year low of $9.50 and a one year high of $23.97. The company has a market cap of $5.95 billion, a P/E ratio of -67.64 and a beta of 1.00. The business’s 50-day simple moving average is $13.20 and its 200-day simple moving average is $13.11.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction that occurred 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 $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by company insiders.

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.