Whittier Trust Co. Trims Position in UiPath Inc. (NYSE:PATH)

Whittier Trust Co. reduced its holdings in UiPath Inc. (NYSE:PATH) by 26.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,890 shares of the company’s stock after selling 1,044 shares during the period. Whittier Trust Co.’s holdings in UiPath were worth $37,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PATH. Principal Financial Group Inc. lifted its position in UiPath by 10.5% during the third quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after purchasing an additional 3,477 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of UiPath by 10.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock valued at $267,000 after buying an additional 1,995 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of UiPath by 181.4% in the 3rd quarter. Quest Partners LLC now owns 27,756 shares of the company’s stock valued at $355,000 after buying an additional 17,893 shares during the period. Pathstone Holdings LLC boosted its stake in shares of UiPath by 8.0% in the third quarter. Pathstone Holdings LLC now owns 153,617 shares of the company’s stock worth $1,966,000 after buying an additional 11,427 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in UiPath by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock worth $36,997,000 after acquiring an additional 291,171 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 25,000 shares of the business’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 transaction, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by insiders.

UiPath Stock Up 3.6 %

Shares of NYSE PATH opened at $11.20 on Tuesday. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of -69.97 and a beta of 1.00. UiPath Inc. has a 52 week low of $9.50 and a 52 week high of $23.35. The firm has a 50-day simple moving average of $13.07 and a 200-day simple moving average of $13.07.

Analysts Set New Price Targets

Several equities research analysts have commented on PATH shares. Bank of America restated an “underperform” rating and issued a $10.00 price objective (down previously from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Mizuho lowered their price target on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Thursday, March 13th. Royal Bank of Canada lowered their target price on shares of UiPath from $16.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. lifted their price target on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.62.

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.