Aquatic Capital Management LLC Sells 208,486 Shares of UiPath Inc. (NYSE:PATH)

Aquatic Capital Management LLC lowered its stake in shares of UiPath Inc. (NYSE:PATH) by 68.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,314 shares of the company’s stock after selling 208,486 shares during the quarter. Aquatic Capital Management LLC’s holdings in UiPath were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PATH. Principal Financial Group Inc. boosted its position in UiPath by 10.5% during the third quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after purchasing an additional 3,477 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in UiPath in the fourth quarter worth about $241,000. Diversified Trust Co acquired a new stake in UiPath in the fourth quarter worth about $715,000. Claro Advisors LLC acquired a new stake in UiPath in the fourth quarter worth about $142,000. Finally, Pallas Capital Advisors LLC boosted its holdings in UiPath by 9.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 64,109 shares of the company’s stock worth $815,000 after acquiring an additional 5,661 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

UiPath Stock Up 1.8 %

PATH opened at $11.81 on Wednesday. The company has a market cap of $6.51 billion, a price-to-earnings ratio of -73.81 and a beta of 1.04. UiPath Inc. has a 52-week low of $9.38 and a 52-week high of $20.95. The firm’s fifty day simple moving average is $11.16 and its two-hundred day simple moving average is $12.73.

Analyst Ratings Changes

Several equities research analysts have weighed in on PATH shares. Barclays lowered their price target on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Scotiabank reduced their price target on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $13.00 price objective on shares of UiPath in a report on Wednesday, March 26th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Wednesday, March 26th. Finally, Mizuho cut their price objective on shares of UiPath from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, UiPath has an average rating of “Hold” and a consensus target price of $12.72.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the transaction, the chief accounting officer now directly owns 314,891 shares of the company’s stock, valued at approximately $3,208,739.29. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 22.37% of the company’s stock.

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.