Kestra Private Wealth Services LLC Reduces Position in UiPath Inc. (NYSE:PATH)

Kestra Private Wealth Services LLC cut its holdings in shares of UiPath Inc. (NYSE:PATH) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,609 shares of the company’s stock after selling 2,662 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in UiPath were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of UiPath in the third quarter worth about $26,000. Quarry LP lifted its holdings in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after buying an additional 2,729 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of UiPath by 124.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after buying an additional 2,274 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of UiPath by 21,710.0% in the third quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock worth $56,000 after buying an additional 4,342 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of UiPath in the third quarter worth about $65,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at UiPath

In other news, 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 value of $326,250.00. Following the transaction, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Barclays decreased their price objective on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. upped their price objective on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research report 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.44.

UiPath Stock Performance

Shares of UiPath stock opened at $15.13 on Friday. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $26.56. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of -94.54 and a beta of 0.98. The company’s 50 day moving average price is $13.72 and its 200-day moving average price is $13.01.

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.