CANADA LIFE ASSURANCE Co Cuts Position in UiPath Inc. (NYSE:PATH)

CANADA LIFE ASSURANCE Co reduced its stake in shares of UiPath Inc. (NYSE:PATH) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,706,843 shares of the company’s stock after selling 155,297 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.31% of UiPath worth $21,659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of PATH. Norges Bank purchased a new position in UiPath in the 4th quarter valued at approximately $71,191,000. Senvest Management LLC increased its position in shares of UiPath by 29.2% in the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock valued at $178,890,000 after buying an additional 3,180,300 shares in the last quarter. Marshall Wace LLP raised its stake in shares of UiPath by 111.8% during the 4th quarter. Marshall Wace LLP now owns 2,456,102 shares of the company’s stock worth $31,217,000 after buying an additional 1,296,382 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of UiPath in the 4th quarter worth about $15,611,000. Finally, Federated Hermes Inc. grew its stake in UiPath by 371.6% in the 4th quarter. Federated Hermes Inc. now owns 987,384 shares of the company’s stock valued at $12,550,000 after acquiring an additional 778,032 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at UiPath

In related 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 transaction of $127,375.00. Following the completion of the sale, the chief accounting officer now owns 314,891 shares of the company’s stock, valued at approximately $3,208,739.29. This represents a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.37% of the stock is owned by company insiders.

UiPath Stock Up 0.6 %

Shares of NYSE PATH opened at $10.44 on Friday. The stock has a market capitalization of $5.76 billion, a PE ratio of -65.25 and a beta of 1.04. The firm has a fifty day moving average of $11.65 and a 200-day moving average of $12.79. UiPath Inc. has a 52-week low of $9.38 and a 52-week high of $20.95.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PATH shares. Wells Fargo & Company reduced their price target on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $13.00 target price on shares of UiPath in a research note on Wednesday, March 26th. Evercore ISI dropped their price target 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. Canaccord Genuity Group decreased their price objective on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley reduced their target price on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, UiPath has an average rating of “Hold” and a consensus target price of $12.72.

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.