Circumference Group LLC Purchases 75,000 Shares of UiPath Inc. (NYSE:PATH)

Circumference Group LLC increased its position in shares of UiPath Inc. (NYSE:PATH - Free Report) by 25.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 365,000 shares of the company's stock after purchasing an additional 75,000 shares during the quarter. UiPath accounts for about 4.0% of Circumference Group LLC's investment portfolio, making the stock its 12th largest holding. Circumference Group LLC owned about 0.07% of UiPath worth $4,639,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock worth $31,000 after purchasing an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. boosted its position in UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock worth $32,000 after acquiring an additional 804 shares during the period. EverSource Wealth Advisors LLC boosted its position in UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock worth $38,000 after acquiring an additional 1,742 shares during the period. V Square Quantitative Management LLC boosted its position in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after acquiring an additional 759 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of UiPath during the 4th quarter valued at about $50,000. 62.50% of the stock is currently owned by institutional investors.

UiPath Trading Up 4.4%

Shares of PATH traded up $0.55 during trading hours on Monday, hitting $13.05. 7,716,060 shares of the stock traded hands, compared to its average volume of 10,793,803. UiPath Inc. has a 1-year low of $9.38 and a 1-year high of $20.95. The firm has a market capitalization of $7.20 billion, a PE ratio of -81.58 and a beta of 1.01. The business has a fifty day moving average of $11.08 and a 200-day moving average of $12.70.

Wall Street Analyst Weigh In

PATH has been the subject of several research reports. Barclays reduced their price target on UiPath from $15.00 to $12.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $13.00 price target on shares of UiPath in a research report on Wednesday, March 26th. Needham & Company LLC restated a "hold" rating on shares of UiPath in a research report on Wednesday, March 26th. Morgan Stanley lowered their price objective on 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, Wells Fargo & Company lowered their price target on UiPath from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Two investment 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. According to data from MarketBeat, UiPath has an average rating of "Hold" and a consensus target price of $12.72.

Insider Activity

In other news, CFO Ashim Gupta sold 98,795 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now owns 987,322 shares of the company's stock, valued at $11,857,737.22. This trade represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $127,375.00. Following the sale, the chief accounting officer now directly owns 314,891 shares in the company, valued at approximately $3,208,739.29. This represents a 3.82% decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

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.