Straight Path Wealth Management Sells 1,000 Shares of UiPath Inc. (NYSE:PATH)

Straight Path Wealth Management decreased its position in shares of UiPath Inc. (NYSE:PATH) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,000 shares of the company’s stock after selling 1,000 shares during the period. Straight Path Wealth Management’s holdings in UiPath were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PATH. Smartleaf Asset Management LLC grew its holdings in shares of UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after purchasing an additional 804 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares during the last quarter. Quarry LP grew its holdings in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after purchasing an additional 2,729 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of UiPath by 21,710.0% in the third quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock worth $56,000 after purchasing an additional 4,342 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Insider Activity

In related news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the transaction, the chief financial officer now owns 856,538 shares in the company, 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. Corporate insiders own 22.37% of the company’s stock.

UiPath Stock Up 2.3 %

PATH opened at $12.07 on Thursday. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $25.47. The company has a market cap of $6.63 billion, a P/E ratio of -75.41 and a beta of 0.98. The firm’s 50-day moving average price is $13.55 and its 200-day moving average price is $13.19.

Analysts Set New Price Targets

A number of analysts recently weighed in on PATH shares. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Wednesday, January 15th. Barclays lowered their price objective on shares of UiPath from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Morgan Stanley upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. BMO Capital Markets upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.44.

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.