Allegiance Financial Group Advisory Services LLC Takes Position in UiPath Inc. (NYSE:PATH)

Allegiance Financial Group Advisory Services LLC acquired a new stake in UiPath Inc. (NYSE:PATH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,508 shares of the company’s stock, valued at approximately $159,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ontario Teachers Pension Plan Board lifted its position in shares of UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after acquiring an additional 62,650 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of UiPath by 60.1% in the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after acquiring an additional 209,300 shares in the last quarter. Stifel Financial Corp lifted its position in shares of UiPath by 30.1% in the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after acquiring an additional 74,959 shares in the last quarter. Senvest Management LLC lifted its position in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of UiPath by 667.7% in the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after acquiring an additional 88,468 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of the firm’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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the firm’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 sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

UiPath Stock Performance

PATH stock opened at $12.73 on Thursday. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $25.47. The firm has a market cap of $6.99 billion, a P/E ratio of -79.53 and a beta of 0.98. The stock has a 50-day simple moving average of $13.65 and a 200-day simple moving average of $13.17.

Analysts Set New Price Targets

PATH has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Wednesday, January 15th. Barclays reduced their target price on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.44.

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.