UiPath Inc. (NYSE:PATH) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC reduced its holdings in shares of UiPath Inc. (NYSE:PATH) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,602,729 shares of the company’s stock after selling 1,347,073 shares during the period. UiPath makes up 2.1% of ARK Investment Management LLC’s holdings, making the stock its 14th largest position. ARK Investment Management LLC’s holdings in UiPath were worth $249,151,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ontario Teachers Pension Plan Board increased its holdings in shares of UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after purchasing an additional 62,650 shares during the period. D.A. Davidson & CO. increased its holdings in shares of UiPath by 60.1% in the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after purchasing an additional 209,300 shares during the period. Stifel Financial Corp increased its holdings in shares of UiPath by 30.1% in the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after purchasing an additional 74,959 shares during the period. Senvest Management LLC increased its holdings in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after purchasing an additional 1,559,500 shares during the period. Finally, Quantbot Technologies LP increased its holdings in shares of UiPath by 667.7% in the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after purchasing an additional 88,468 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

UiPath Trading Down 4.5 %

Shares of PATH stock opened at $12.65 on Wednesday. The company has a market capitalization of $6.95 billion, a P/E ratio of -79.03 and a beta of 0.98. The business’s 50 day moving average is $13.66 and its two-hundred day moving average is $13.18. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $25.47.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PATH. BMO Capital Markets increased their price objective on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Finally, Morgan Stanley raised their target price on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.44.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $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. 22.37% of the stock is currently 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.