UiPath Inc. (NYSE:PATH) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in UiPath Inc. (NYSE:PATH) by 11.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,590,291 shares of the company’s stock after selling 1,579,445 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in UiPath were worth $160,023,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PATH. Future Financial Wealth Managment LLC purchased a new position in UiPath in the third quarter valued at about $26,000. JTC Employer Solutions Trustee Ltd acquired a new position in UiPath during the 3rd quarter worth approximately $26,000. Quarry LP boosted its holdings in UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after acquiring an additional 2,729 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after purchasing an additional 2,274 shares during the period. Finally, True Wealth Design LLC lifted its position in shares of UiPath by 21,710.0% during the third quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock worth $56,000 after purchasing an additional 4,342 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Stock Down 2.3 %

Shares of NYSE:PATH opened at $13.96 on Friday. The firm has a 50-day simple moving average of $13.76 and a 200 day simple moving average of $12.95. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The company has a market cap of $7.67 billion, a PE ratio of -87.22 and a beta of 0.98.

Analyst Ratings Changes

A number of research firms recently weighed in on PATH. BMO Capital Markets raised their price target on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. UBS Group initiated coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 target price for the company. Wells Fargo & Company cut their price target on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a research note on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.44.

Insider Activity

In other news, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated 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 sale, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents 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 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.