Bank of America Corp DE Trims Holdings in UiPath Inc. (NYSE:PATH)

Bank of America Corp DE decreased its stake in UiPath Inc. (NYSE:PATH - Free Report) by 68.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 552,621 shares of the company's stock after selling 1,184,775 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of UiPath worth $7,024,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. boosted its position in UiPath by 15.8% during the fourth quarter. Ameriprise Financial Inc. now owns 471,346 shares of the company's stock worth $5,990,000 after acquiring an additional 64,141 shares during the last quarter. Algert Global LLC boosted its position in UiPath by 59.0% during the fourth quarter. Algert Global LLC now owns 350,875 shares of the company's stock worth $4,460,000 after acquiring an additional 130,165 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in UiPath during the fourth quarter worth about $245,000. AQR Capital Management LLC boosted its position in UiPath by 45.3% during the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after acquiring an additional 2,072,089 shares during the last quarter. Finally, Northern Trust Corp raised its stake in UiPath by 9.9% during the fourth quarter. Northern Trust Corp now owns 2,303,207 shares of the company's stock worth $29,274,000 after purchasing an additional 208,307 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

Insider Activity at UiPath

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, the chief accounting officer now owns 314,891 shares in the company, valued at $3,208,739.29. The trade was a 3.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 98,795 shares of the business's stock in a transaction that occurred 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 owns 987,322 shares of the company's stock, valued at $11,857,737.22. This trade represents a 9.10% decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.19% of the company's stock.

UiPath Price Performance

Shares of PATH stock traded up $0.33 during trading on Wednesday, reaching $13.00. The company's stock had a trading volume of 12,880,697 shares, compared to its average volume of 10,931,509. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of -81.25 and a beta of 1.01. The stock's 50-day moving average price is $11.41 and its 200 day moving average price is $12.70. UiPath Inc. has a 1-year low of $9.38 and a 1-year high of $18.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of UiPath from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Evercore ISI reduced their target price on shares of 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 reduced their target price on shares of UiPath from $15.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets reduced their price target on shares of UiPath from $16.00 to $11.50 and set a "market perform" rating on the stock in a research note on Friday, March 14th. Finally, UBS Group reduced their price target on shares of UiPath from $14.00 to $10.00 and set a "sell" rating on the stock in a research note on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $12.72.

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.