Man Group plc Trims Stock Holdings in UiPath Inc. (NYSE:PATH)

Man Group plc lessened its position in UiPath Inc. (NYSE:PATH - Free Report) by 60.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 488,055 shares of the company's stock after selling 740,073 shares during the quarter. Man Group plc owned approximately 0.09% of UiPath worth $6,203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock worth $31,000 after acquiring an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after acquiring an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of UiPath by 141.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock valued at $38,000 after acquiring an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock valued at $39,000 after acquiring an additional 759 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of UiPath during the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

UiPath Stock Performance

Shares of UiPath stock traded up $0.05 during trading hours on Friday, hitting $12.39. The company's stock had a trading volume of 9,253,854 shares, compared to its average volume of 10,905,860. The business has a 50 day moving average price of $11.31 and a two-hundred day moving average price of $12.71. UiPath Inc. has a 12-month low of $9.38 and a 12-month high of $19.16. The company has a market cap of $6.83 billion, a PE ratio of -77.44 and a beta of 1.01.

Insider Buying and Selling

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 stock was sold at an average price of $10.19, for a total transaction 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. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 value of $1,186,527.95. Following the sale, the chief financial officer now directly owns 987,322 shares in the company, valued at $11,857,737.22. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PATH shares. UBS Group reduced their price target on UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a report on Thursday, March 13th. 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. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a report on Wednesday, March 26th. Wells Fargo & Company reduced their target price on UiPath from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Finally, Mizuho reduced their target price on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.72.

About UiPath

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.