Legal & General Group Plc Decreases Stock Position in UiPath Inc. (NYSE:PATH)

Legal & General Group Plc decreased its position in shares of UiPath Inc. (NYSE:PATH) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 613,534 shares of the company’s stock after selling 77,524 shares during the period. Legal & General Group Plc owned approximately 0.11% of UiPath worth $7,798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PATH. Invesco Ltd. boosted its position in shares of UiPath by 10.5% during the fourth quarter. Invesco Ltd. now owns 382,800 shares of the company’s stock valued at $4,865,000 after buying an additional 36,332 shares during the period. Cerity Partners LLC increased its stake in UiPath by 82.2% in the fourth quarter. Cerity Partners LLC now owns 267,705 shares of the company’s stock worth $3,404,000 after purchasing an additional 120,805 shares during the period. Federated Hermes Inc. boosted its stake in shares of UiPath by 371.6% during the fourth quarter. Federated Hermes Inc. now owns 987,384 shares of the company’s stock valued at $12,550,000 after purchasing an additional 778,032 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of UiPath in the fourth quarter worth about $102,000. Finally, Russell Investments Group Ltd. lifted its holdings in UiPath by 73.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,118,774 shares of the company’s stock valued at $14,220,000 after buying an additional 475,133 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

UiPath Price Performance

Shares of UiPath stock opened at $10.44 on Friday. UiPath Inc. has a 1-year low of $9.38 and a 1-year high of $20.95. The stock has a market cap of $5.76 billion, a P/E ratio of -65.25 and a beta of 1.04. The stock’s 50 day simple moving average is $11.65 and its 200-day simple moving average is $12.79.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PATH shares. Scotiabank decreased their price target on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Morgan Stanley cut their price target on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Evercore ISI cut their target price on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, March 13th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Wednesday, March 26th. Finally, Barclays lowered their target price on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.72.

Insider Buying and Selling at UiPath

In related news, CAO Hitesh Ramani sold 12,500 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 314,891 shares in the company, valued at $3,208,739.29. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.37% of the stock is currently owned by company insiders.

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.