Geode Capital Management LLC Sells 281,261 Shares of UiPath Inc. (NYSE:PATH)

Geode Capital Management LLC lowered its position in UiPath Inc. (NYSE:PATH) by 3.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,030,807 shares of the company’s stock after selling 281,261 shares during the period. Geode Capital Management LLC owned 1.28% of UiPath worth $89,390,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighPoint Advisor Group LLC bought a new position in shares of UiPath in the 4th quarter worth about $311,000. Franklin Resources Inc. grew its holdings in UiPath by 1,245.4% in the fourth quarter. Franklin Resources Inc. now owns 136,690 shares of the company’s stock worth $1,737,000 after purchasing an additional 126,530 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of UiPath during the fourth quarter valued at approximately $5,776,000. Pictet Asset Management Holding SA lifted its holdings in shares of UiPath by 14.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 67,861 shares of the company’s stock valued at $863,000 after purchasing an additional 8,497 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of UiPath in the 4th quarter worth approximately $71,191,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Price Performance

Shares of PATH opened at $10.66 on Friday. UiPath Inc. has a one year low of $9.38 and a one year high of $21.66. The business has a fifty day moving average of $12.10 and a 200 day moving average of $12.88. The firm has a market capitalization of $5.88 billion, a P/E ratio of -66.59 and a beta of 1.04.

Wall Street Analyst Weigh In

PATH has been the subject of a number of analyst reports. Evercore ISI reduced their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday, March 13th. Mizuho reduced their price target on UiPath from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Wells Fargo & Company dropped their price target on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley cut their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.78.

Insider Buying and Selling at UiPath

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the transaction, the chief accounting officer now directly owns 314,891 shares in the company, valued at approximately $3,208,739.29. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.37% of the company’s stock.

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.