Prosperity Wealth Management Inc. Trims Stock Position in UiPath Inc. (NYSE:PATH)

Prosperity Wealth Management Inc. lessened its holdings in shares of UiPath Inc. (NYSE:PATH) by 33.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,900 shares of the company’s stock after selling 6,855 shares during the period. Prosperity Wealth Management Inc.’s holdings in UiPath were worth $177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PATH. Jacobs Levy Equity Management Inc. raised its holdings in shares of UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the last quarter. Senvest Management LLC increased its holdings in 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 buying an additional 1,559,500 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in UiPath in the third quarter valued at $19,071,000. Geode Capital Management LLC increased its holdings in UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after buying an additional 493,502 shares in the last quarter. Finally, Washington Harbour Partners LP purchased a new position in UiPath in the third quarter valued at $5,684,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Trading Up 1.0 %

PATH opened at $11.85 on Thursday. The firm has a market capitalization of $6.51 billion, a PE ratio of -74.08 and a beta of 1.00. UiPath Inc. has a twelve month low of $9.70 and a twelve month high of $25.47. The firm’s 50-day moving average price is $13.47 and its 200 day moving average price is $13.18.

Analysts Set New Price Targets

A number of research firms have weighed in on PATH. Morgan Stanley lifted their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. BMO Capital Markets lifted their price objective on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Barclays cut their price objective on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.44.

Insider Buying and Selling

In other UiPath 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 value of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction dated 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 in the company, valued at $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 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.