UiPath Inc. (NYSE:PATH) Shares Sold by Bayesian Capital Management LP

Bayesian Capital Management LP cut its holdings in UiPath Inc. (NYSE:PATH - Free Report) by 86.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,400 shares of the company's stock after selling 88,300 shares during the quarter. Bayesian Capital Management LP's holdings in UiPath were worth $170,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PATH. Jackson Creek Investment Advisors LLC purchased a new position in UiPath during the fourth quarter worth $298,000. ING Groep NV purchased a new stake in shares of UiPath during the fourth quarter worth about $3,120,000. Pacer Advisors Inc. raised its position in shares of UiPath by 698.1% in the fourth quarter. Pacer Advisors Inc. now owns 289,471 shares of the company's stock valued at $3,679,000 after buying an additional 253,203 shares during the last quarter. Savant Capital LLC lifted its stake in shares of UiPath by 483.1% during the fourth quarter. Savant Capital LLC now owns 225,906 shares of the company's stock valued at $2,871,000 after buying an additional 187,161 shares during the period. Finally, Washington Capital Management Inc. acquired a new stake in UiPath during the fourth quarter worth approximately $432,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PATH shares. Wells Fargo & Company cut their price target on UiPath from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Bank of America reiterated an "underperform" rating and set a $10.00 target price (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Scotiabank lowered their price target on UiPath from $15.00 to $12.00 and set a "sector perform" rating for the company in a report on Thursday, March 13th. 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 research note on Thursday, March 13th. Finally, Barclays lowered their price objective on shares of UiPath from $15.00 to $12.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.72.

Insider Transactions at UiPath

In related 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 sale, the chief accounting officer now directly owns 314,891 shares of the company's stock, valued at $3,208,739.29. This represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ashim Gupta sold 98,795 shares of the firm'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 transaction, the chief financial officer now directly owns 987,322 shares of the company's stock, valued at approximately $11,857,737.22. This 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.

UiPath Price Performance

UiPath stock traded up $0.06 during midday trading on Friday, hitting $12.50. 5,493,312 shares of the company were exchanged, compared to its average volume of 10,806,159. UiPath Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $20.95. The company's fifty day moving average price is $11.08 and its 200-day moving average price is $12.70. The company has a market cap of $6.89 billion, a PE ratio of -78.13 and a beta of 1.01.

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.