UiPath Inc. (NYSE:PATH) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. reduced its position in UiPath Inc. (NYSE:PATH) by 11.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,590,291 shares of the company’s stock after selling 1,579,445 shares during the quarter. UiPath comprises about 1.7% of Nikko Asset Management Americas Inc.’s holdings, making the stock its 15th largest position. Nikko Asset Management Americas Inc.’s holdings in UiPath were worth $160,023,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Senvest Management LLC boosted its position in shares of UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after acquiring an additional 493,502 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after acquiring an additional 3,411,562 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of UiPath by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock valued at $36,997,000 after acquiring an additional 291,171 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in UiPath by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company’s stock worth $30,984,000 after purchasing an additional 66,100 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at UiPath

In other news, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the transaction, the chief financial officer now owns 856,538 shares in the company, valued at approximately $11,186,386.28. The trade was a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

UiPath Stock Up 8.8 %

PATH stock opened at $10.84 on Monday. UiPath Inc. has a 12 month low of $9.50 and a 12 month high of $23.97. The firm has a market cap of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00. The company’s 50-day moving average price is $13.36 and its two-hundred day moving average price is $13.15.

Analyst Ratings Changes

Several research firms have recently commented on PATH. Wells Fargo & Company reduced their target price on UiPath from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday. Canaccord Genuity Group cut their target price on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. Evercore ISI cut their price objective on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday. Barclays dropped their price target on shares of UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Bank of America reiterated an “underperform” rating and issued a $10.00 price target (down from $18.00) on shares of UiPath in a research report on Thursday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.53.

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.