Maryland State Retirement & Pension System Buys 2,349 Shares of UiPath Inc. (NYSE:PATH)

Maryland State Retirement & Pension System grew its position in UiPath Inc. (NYSE:PATH) by 10.6% during the fourth quarter, HoldingsChannel reports. The firm owned 24,572 shares of the company’s stock after buying an additional 2,349 shares during the quarter. Maryland State Retirement & Pension System’s holdings in UiPath were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after acquiring an additional 493,502 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of UiPath by 554.8% in 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 purchasing an additional 3,411,562 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of UiPath by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock worth $36,997,000 after purchasing an additional 291,171 shares during the period. Bank of New York Mellon Corp boosted its stake in UiPath by 2.8% during 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 purchasing an additional 66,100 shares during the period. Finally, Ieq Capital LLC grew its holdings in UiPath by 29.7% in the 4th quarter. Ieq Capital LLC now owns 1,885,904 shares of the company’s stock valued at $23,970,000 after buying an additional 431,451 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the sale, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Hitesh Ramani sold 25,000 shares of the firm’s stock in a transaction that occurred 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 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. Corporate insiders own 22.37% of the company’s stock.

UiPath Trading Up 1.2 %

Shares of PATH stock opened at $11.34 on Wednesday. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of -70.88 and a beta of 1.00. The firm’s 50 day moving average is $13.03 and its 200-day moving average is $13.07. UiPath Inc. has a 1 year low of $9.50 and a 1 year high of $23.35.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of UiPath 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 report on Thursday, March 13th. Bank of America restated an “underperform” rating and issued a $10.00 price target (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Wells Fargo & Company reduced their target price on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, Barclays lowered their price target on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.62.

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.