Savant Capital LLC reduced its holdings in UiPath, Inc. (NYSE:PATH – Free Report) by 27.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 226,984 shares of the company’s stock after selling 85,436 shares during the quarter. Savant Capital LLC’s holdings in UiPath were worth $2,905,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in PATH. Federated Hermes Inc. increased its position in UiPath by 479.3% in the 1st quarter. Federated Hermes Inc. now owns 5,720,096 shares of the company’s stock worth $58,917,000 after buying an additional 4,732,712 shares during the period. Acadian Asset Management LLC grew its stake in shares of UiPath by 222.6% in the first quarter. Acadian Asset Management LLC now owns 4,241,047 shares of the company’s stock worth $43,667,000 after acquiring an additional 2,926,263 shares during the last quarter. Candriam S.C.A. acquired a new stake in shares of UiPath in the first quarter worth $18,440,000. Vanguard Group Inc. increased its position in UiPath by 3.0% during the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company’s stock worth $495,029,000 after acquiring an additional 1,396,972 shares during the period. Finally, Armistice Capital LLC raised its stake in UiPath by 220.3% during the 1st quarter. Armistice Capital LLC now owns 1,799,689 shares of the company’s stock valued at $18,537,000 after purchasing an additional 1,237,782 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.
UiPath Trading Down 0.6%
Shares of PATH opened at $14.22 on Tuesday. The stock has a market cap of $7.55 billion, a PE ratio of 474.00, a PEG ratio of 5.29 and a beta of 1.09. UiPath, Inc. has a 1 year low of $9.38 and a 1 year high of $18.74. The stock has a 50 day simple moving average of $13.98 and a 200-day simple moving average of $12.81.
Insider Activity
In other UiPath news, CFO Ashim Gupta sold 240,874 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $17.28, for a total value of $4,162,302.72. Following the transaction, the chief financial officer directly owned 696,117 shares in the company, valued at $12,028,901.76. The trade was a 25.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Dines sold 122,734 shares of the company’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $14.89, for a total transaction of $1,827,509.26. Following the sale, the chief executive officer directly owned 613,670 shares in the company, valued at $9,137,546.30. This represents a 16.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,319,002 shares of company stock valued at $34,094,875 over the last three months. 23.19% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. Zacks Research downgraded shares of UiPath from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Cowen restated a “hold” rating on shares of UiPath in a research note on Friday, September 5th. Truist Financial reduced their price objective on UiPath from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Friday, September 5th. UBS Group set a $17.00 price objective on UiPath and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Finally, BMO Capital Markets upped their target price on UiPath from $12.50 to $13.00 and gave the company a “market perform” rating in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, UiPath presently has a consensus rating of “Hold” and an average target price of $13.71.
Check Out Our Latest Stock Analysis on PATH
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.
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