Bridgefront Capital LLC Makes New Investment in UiPath Inc. (NYSE:PATH)

Bridgefront Capital LLC bought a new position in UiPath Inc. (NYSE:PATH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 52,534 shares of the company's stock, valued at approximately $668,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jackson Creek Investment Advisors LLC acquired a new position in UiPath during the 4th quarter worth approximately $298,000. Principal Financial Group Inc. grew its stake in shares of UiPath by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company's stock worth $470,000 after purchasing an additional 3,477 shares during the period. ING Groep NV purchased a new position in shares of UiPath in the 4th quarter valued at about $3,120,000. Pacer Advisors Inc. boosted its holdings in UiPath by 698.1% during the fourth quarter. Pacer Advisors Inc. now owns 289,471 shares of the company's stock worth $3,679,000 after buying an additional 253,203 shares in the last quarter. Finally, Savant Capital LLC grew its position in UiPath by 483.1% during the fourth quarter. Savant Capital LLC now owns 225,906 shares of the company's stock worth $2,871,000 after buying an additional 187,161 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

Insider Buying and Selling

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

UiPath Trading Up 0.5 %

NYSE:PATH traded up $0.06 on Friday, hitting $12.50. 5,493,312 shares of the stock 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 stock has a fifty day moving average of $11.08 and a 200-day moving average of $12.70. The stock has a market cap of $6.89 billion, a PE ratio of -78.13 and a beta of 1.01.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PATH. Canaccord Genuity Group decreased their price target on UiPath from $19.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a report on Wednesday, March 26th. UBS Group cut their price target on UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a research note on Thursday, March 13th. Bank of America restated an "underperform" rating and set a $10.00 target price (down from $18.00) on shares of UiPath in a report on Thursday, March 13th. Finally, Morgan Stanley lowered their price target 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. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.