Man Group plc Has $6.20 Million Position in UiPath Inc. (NYSE:PATH)

Man Group plc lowered its position in shares of UiPath Inc. (NYSE:PATH) by 60.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 488,055 shares of the company’s stock after selling 740,073 shares during the quarter. Man Group plc owned 0.09% of UiPath worth $6,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in shares of UiPath by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock valued at $187,000 after buying an additional 736 shares during the period. V Square Quantitative Management LLC boosted 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 valued at $39,000 after buying an additional 759 shares during the period. First Horizon Advisors Inc. boosted 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 valued at $32,000 after buying an additional 804 shares during the period. Amalgamated Bank boosted its holdings in shares of UiPath by 3.1% in the fourth quarter. Amalgamated Bank now owns 28,148 shares of the company’s stock valued at $358,000 after buying an additional 836 shares during the period. Finally, United Capital Financial Advisors LLC boosted its holdings in shares of UiPath by 8.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company’s stock valued at $156,000 after buying an additional 971 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Trading Down 1.2%

NYSE PATH opened at $12.44 on Wednesday. The firm’s fifty day moving average price is $11.25 and its two-hundred day moving average price is $12.72. UiPath Inc. has a 1 year low of $9.38 and a 1 year high of $20.36. The firm has a market capitalization of $6.86 billion, a P/E ratio of -77.75 and a beta of 1.01.

Insider Buying and Selling at UiPath

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the transaction, the chief accounting officer now directly owns 314,891 shares in the company, valued at $3,208,739.29. The trade was a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the transaction, the chief financial officer now owns 987,322 shares in the company, valued at $11,857,737.22. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PATH shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $13.00 price target on shares of UiPath in a report on Wednesday, March 26th. Canaccord Genuity Group cut their price objective on shares of UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Scotiabank cut their price objective on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley cut their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, Evercore ISI cut their price objective on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, UiPath has a consensus rating of “Hold” and an average target price of $12.72.

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.