Wakefield Asset Management LLLP Acquires New Holdings in UiPath Inc. (NYSE:PATH)

Wakefield Asset Management LLLP bought a new position in shares of UiPath Inc. (NYSE:PATH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 78,760 shares of the company’s stock, valued at approximately $1,001,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Creative Planning grew its stake in shares of UiPath by 21.0% in the third quarter. Creative Planning now owns 59,019 shares of the company’s stock worth $744,000 after purchasing an additional 10,258 shares during the last quarter. Raymond James & Associates grew its position in shares of UiPath by 4.3% in the 3rd quarter. Raymond James & Associates now owns 240,145 shares of the company’s stock valued at $3,074,000 after buying an additional 9,814 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of UiPath by 124.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after buying an additional 2,274 shares during the period. International Assets Investment Management LLC lifted its stake in shares of UiPath by 1,103.9% in the third quarter. International Assets Investment Management LLC now owns 91,072 shares of the company’s stock worth $1,166,000 after acquiring an additional 83,507 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in UiPath by 164.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 95,469 shares of the company’s stock valued at $1,222,000 after acquiring an additional 59,435 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PATH shares. Morgan Stanley upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Wednesday, January 15th. BMO Capital Markets boosted their target price on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a report on Friday, December 6th. Finally, 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. One equities research 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. According to data from MarketBeat.com, UiPath currently has a consensus rating of “Hold” and an average price target of $17.44.

UiPath Stock Performance

Shares of NYSE:PATH opened at $12.30 on Friday. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $25.47. The firm has a market capitalization of $6.76 billion, a P/E ratio of -76.84 and a beta of 0.98. The stock has a 50 day moving average price of $13.65 and a 200-day moving average price of $13.17.

Insider Activity

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the 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 transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

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.