Palumbo Wealth Management LLC Purchases Shares of 11,337 UiPath Inc. (NYSE:PATH)

Palumbo Wealth Management LLC purchased a new stake in UiPath Inc. (NYSE:PATH) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 11,337 shares of the company’s stock, valued at approximately $144,000.

A number of other hedge funds have also recently bought and sold shares of PATH. V Square Quantitative Management LLC boosted its stake in shares of UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after acquiring an additional 759 shares during the period. Cowa LLC boosted its stake in shares of UiPath by 4.4% during the 3rd quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after acquiring an additional 1,118 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in shares of UiPath by 6.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock worth $334,000 after acquiring an additional 1,654 shares during the period. Amalgamated Bank boosted its stake in shares of UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after acquiring an additional 1,811 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of UiPath by 10.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock worth $267,000 after acquiring an additional 1,995 shares during the period. 62.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PATH shares. Wells Fargo & Company reduced their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. UBS Group assumed coverage on UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. lifted their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, UiPath has a consensus rating of “Hold” and a consensus price target of $17.44.

Insider Transactions at UiPath

In related news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 269,421 shares in the company, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by insiders.

UiPath Stock Performance

UiPath stock opened at $14.94 on Monday. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $26.56. The stock has a market capitalization of $8.21 billion, a P/E ratio of -93.36 and a beta of 0.98. The stock has a fifty day moving average of $13.73 and a 200-day moving average of $13.04.

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.