UiPath Inc. (NYSE:PATH) Position Lifted by Neuberger Berman Group LLC

Neuberger Berman Group LLC raised its stake in UiPath Inc. (NYSE:PATH) by 42.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,526,348 shares of the company’s stock after purchasing an additional 748,940 shares during the period. Neuberger Berman Group LLC owned 0.46% of UiPath worth $32,113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in UiPath by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock worth $593,101,000 after purchasing an additional 576,458 shares in the last quarter. Geode Capital Management LLC lifted its holdings in UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after buying an additional 493,502 shares during the last quarter. Norges Bank acquired a new position in shares of UiPath in the 4th quarter worth approximately $71,191,000. Bank of New York Mellon Corp increased its holdings in shares of UiPath by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company’s stock valued at $30,984,000 after acquiring an additional 66,100 shares during the last quarter. Finally, Ieq Capital LLC raised its position in shares of UiPath by 29.7% during the 4th quarter. Ieq Capital LLC now owns 1,885,904 shares of the company’s stock valued at $23,970,000 after acquiring an additional 431,451 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total transaction of $127,375.00. Following the transaction, the chief accounting officer now owns 314,891 shares in the company, valued at $3,208,739.29. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 22.37% of the company’s stock.

Analysts Set New Price Targets

PATH has been the subject of a number of research reports. Morgan Stanley decreased their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Canaccord Genuity Group decreased their price target on shares of UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Wells Fargo & Company lowered their price objective on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Evercore ISI cut their target price on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, March 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, UiPath currently has an average rating of “Hold” and an average target price of $12.78.

UiPath Stock Performance

NYSE:PATH opened at $10.66 on Friday. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of -66.59 and a beta of 1.04. UiPath Inc. has a 1 year low of $9.38 and a 1 year high of $21.66. The business has a fifty day moving average of $12.10 and a 200-day moving average of $12.88.

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, 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.