Versor Investments LP Acquires 48,251 Shares of UiPath Inc. (NYSE:PATH)

Versor Investments LP grew its position in UiPath Inc. (NYSE:PATH) by 232.0% during the 4th quarter, HoldingsChannel reports. The firm owned 69,051 shares of the company’s stock after purchasing an additional 48,251 shares during the quarter. Versor Investments LP’s holdings in UiPath were worth $878,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after purchasing an additional 804 shares during the period. V Square Quantitative Management LLC raised its holdings in UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares during the period. Quarry LP raised its holdings in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in 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 purchasing an additional 2,274 shares during the period. Finally, True Wealth Design LLC raised its holdings in 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 purchasing an additional 4,342 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PATH. Morgan Stanley increased their target price on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Barclays dropped their price objective on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. Finally, UBS Group assumed coverage on shares of UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.44.

UiPath Price Performance

Shares of PATH opened at $12.30 on Friday. The firm has a 50-day moving average of $13.65 and a 200-day moving average of $13.17. UiPath Inc. has a one year low of $10.37 and a one year high of $25.47. The company has a market cap of $6.76 billion, a PE ratio of -76.84 and a beta of 0.98.

Insider Activity

In other news, CAO Hitesh Ramani sold 25,000 shares of UiPath 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 completion of the transaction, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 47,227 shares of UiPath 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 directly owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

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.