ING Groep NV Takes Position in UiPath Inc. (NYSE:PATH)

ING Groep NV acquired a new position in shares of UiPath Inc. (NYSE:PATH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 245,500 shares of the company’s stock, valued at approximately $3,120,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Handelsbanken Fonder AB lifted its position in UiPath by 32.3% during the 4th quarter. Handelsbanken Fonder AB now owns 103,700 shares of the company’s stock worth $1,318,000 after acquiring an additional 25,300 shares during the last quarter. Ieq Capital LLC lifted its position in shares of UiPath by 29.7% during the 4th quarter. Ieq Capital LLC now owns 1,885,904 shares of the company’s stock worth $23,970,000 after purchasing an additional 431,451 shares during the last quarter. Truist Financial Corp bought a new stake in UiPath during the 4th quarter valued at approximately $307,000. CIBC Asset Management Inc grew its holdings in UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock valued at $187,000 after buying an additional 736 shares during the last quarter. Finally, Capital Performance Advisors LLP increased its position in UiPath by 146.4% in the 4th quarter. Capital Performance Advisors LLP now owns 12,429 shares of the company’s stock worth $158,000 after buying an additional 7,384 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the company’s 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 sale, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of UiPath 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 transaction, the chief financial officer now owns 856,538 shares of the company’s stock, 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 currently owned by corporate insiders.

Analysts Set New Price Targets

PATH has been the topic of several research analyst reports. Morgan Stanley raised their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets boosted their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.44.

UiPath Stock Performance

Shares of NYSE PATH opened at $13.44 on Friday. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $25.47. The business has a fifty day moving average of $13.70 and a two-hundred day moving average of $13.14. The stock has a market cap of $7.38 billion, a PE ratio of -83.97 and a beta of 0.98.

UiPath 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.