Ieq Capital LLC Buys 431,451 Shares of UiPath Inc. (NYSE:PATH)

Ieq Capital LLC boosted its stake in shares of UiPath Inc. (NYSE:PATH) by 29.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,885,904 shares of the company’s stock after purchasing an additional 431,451 shares during the period. Ieq Capital LLC’s holdings in UiPath were worth $23,970,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC grew its position in UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares during the period. Quarry LP grew its position in UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after buying an additional 2,729 shares during the period. Allspring Global Investments Holdings LLC grew its position in UiPath by 124.7% during 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. True Wealth Design LLC grew its position in UiPath by 21,710.0% during the third quarter. True Wealth Design LLC now owns 4,362 shares of the company’s stock valued at $56,000 after buying an additional 4,342 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in UiPath during the third quarter valued at about $65,000. Institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction that occurred on 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 in the company, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $326,250.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

UiPath Trading Down 3.4 %

PATH stock opened at $14.40 on Thursday. The company’s 50 day moving average is $13.71 and its 200 day moving average is $13.10. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of -89.97 and a beta of 0.98. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $25.47.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PATH shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. BMO Capital Markets upped their price objective on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. UBS Group started coverage on shares of UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Wednesday, January 15th. Finally, Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, UiPath has a consensus rating of “Hold” and an average price target 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.