Edgestream Partners L.P. Sells 205,191 Shares of UiPath Inc. (NYSE:PATH)

Edgestream Partners L.P. lowered its stake in UiPath Inc. (NYSE:PATH) by 51.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 194,803 shares of the company’s stock after selling 205,191 shares during the quarter. Edgestream Partners L.P.’s holdings in UiPath were worth $2,476,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. CIBC Asset Management Inc lifted its stake in UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after purchasing an additional 736 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after purchasing an additional 804 shares in the last quarter. Amalgamated Bank lifted its stake in UiPath by 3.1% in the 4th quarter. Amalgamated Bank now owns 28,148 shares of the company’s stock worth $358,000 after purchasing an additional 836 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in UiPath by 88.5% in 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 in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling at UiPath

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

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. BMO Capital Markets upped their target price on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Barclays decreased their target price on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. Finally, Morgan Stanley upped their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.44.

UiPath Stock Performance

UiPath stock opened at $12.35 on Monday. The stock has a 50-day moving average of $13.51 and a two-hundred day moving average of $13.20. UiPath Inc. has a one year low of $10.37 and a one year high of $25.47. The stock has a market cap of $6.78 billion, a PE ratio of -77.16 and a beta of 1.00.

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.