UiPath Inc. (NYSE:PATH) Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC lifted its holdings in UiPath Inc. (NYSE:PATH) by 42.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,526,348 shares of the company’s stock after purchasing an additional 748,940 shares during the period. Neuberger Berman Group LLC’s holdings in UiPath were worth $32,113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of UiPath during the fourth quarter valued at $71,191,000. Trexquant Investment LP purchased a new position in UiPath in the 4th quarter worth about $15,611,000. Federated Hermes Inc. raised its holdings in UiPath by 371.6% during the 4th quarter. Federated Hermes Inc. now owns 987,384 shares of the company’s stock worth $12,550,000 after buying an additional 778,032 shares during the period. Vanguard Group Inc. lifted its stake in UiPath by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock valued at $593,101,000 after buying an additional 576,458 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after buying an additional 493,502 shares during the period. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price target on shares of UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Mizuho cut their target price on shares of UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. UBS Group reduced their target price on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, March 13th. Bank of America reiterated an “underperform” rating and set a $10.00 price target (down previously from $18.00) on shares of UiPath in a report on Thursday, March 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $13.00 price target on shares of UiPath in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, UiPath has an average rating of “Hold” and a consensus target price of $12.78.

Insider Activity at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total transaction of $127,375.00. Following the transaction, the chief accounting officer now owns 314,891 shares in the company, valued at $3,208,739.29. This represents a 3.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 22.37% of the company’s stock.

UiPath Price Performance

Shares of UiPath stock opened at $10.66 on Friday. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of -66.59 and a beta of 1.04. The stock has a 50-day simple moving average of $12.10 and a 200-day simple moving average of $12.88. UiPath Inc. has a 52-week low of $9.38 and a 52-week high of $21.66.

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.