Two Sigma Investments LP Boosts Holdings in UiPath Inc. (NYSE:PATH)

Two Sigma Investments LP raised its stake in shares of UiPath Inc. (NYSE:PATH) by 8.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,276,248 shares of the company’s stock after acquiring an additional 400,726 shares during the period. Two Sigma Investments LP’s holdings in UiPath were worth $67,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in UiPath in the fourth quarter worth $71,191,000. Senvest Management LLC increased its holdings in shares of UiPath by 29.2% in the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock worth $178,890,000 after buying an additional 3,180,300 shares during the last quarter. AQR Capital Management LLC raised its position in shares of UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock valued at $84,209,000 after buying an additional 2,072,089 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of UiPath by 35.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company’s stock valued at $69,385,000 after acquiring an additional 1,432,569 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of UiPath by 111.8% in the 4th quarter. Marshall Wace LLP now owns 2,456,102 shares of the company’s stock valued at $31,217,000 after acquiring an additional 1,296,382 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

UiPath Stock Down 2.6%

Shares of NYSE:PATH opened at $12.59 on Tuesday. The business’s 50 day moving average is $11.21 and its 200 day moving average is $12.72. The stock has a market cap of $6.94 billion, a P/E ratio of -78.69 and a beta of 1.01. UiPath Inc. has a 52-week low of $9.38 and a 52-week high of $20.51.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PATH shares. Evercore ISI reduced their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, March 13th. Scotiabank cut their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 13th. Bank of America restated an “underperform” rating and issued a $10.00 price target (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Canaccord Genuity Group dropped their price objective on shares of UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Mizuho reduced their target price on shares of UiPath from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.72.

Insider Activity

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

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.