Washington Capital Management Inc. Purchases Shares of 34,000 UiPath Inc. (NYSE:PATH)

Washington Capital Management Inc. acquired a new position in shares of UiPath Inc. (NYSE:PATH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,000 shares of the company’s stock, valued at approximately $432,000.

Several other large investors also recently made changes to their positions in PATH. Senvest Management LLC lifted its holdings in shares of UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after buying an additional 493,502 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after buying an additional 3,411,562 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of UiPath by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock worth $36,997,000 after acquiring an additional 291,171 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock worth $35,296,000 after acquiring an additional 754,519 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Wednesday, January 15th. Morgan Stanley increased their price target on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. UBS Group assumed coverage on shares of UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Finally, Wells Fargo & Company cut their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.44.

UiPath Trading Down 5.2 %

UiPath stock opened at $14.40 on Thursday. The firm has a 50 day simple moving average of $13.73 and a 200 day simple moving average of $12.86. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $27.87.

Insider Activity

In other news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

UiPath Company 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.