Worldquant Millennium Advisors LLC Decreases Stake in UiPath Inc. (NYSE:PATH)

Worldquant Millennium Advisors LLC decreased its position in UiPath Inc. (NYSE:PATH - Free Report) by 96.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,170 shares of the company's stock after selling 1,438,741 shares during the period. Worldquant Millennium Advisors LLC's holdings in UiPath were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of UiPath in the fourth quarter valued at about $71,191,000. Senvest Management LLC boosted its position in UiPath by 29.2% in the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock valued at $178,890,000 after buying an additional 3,180,300 shares during the last quarter. AQR Capital Management LLC increased its holdings in UiPath by 45.3% in the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after buying an additional 2,072,089 shares during the period. Jacobs Levy Equity Management Inc. raised its position in UiPath by 35.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock worth $69,385,000 after buying an additional 1,432,569 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in UiPath by 111.8% during the 4th quarter. Marshall Wace LLP now owns 2,456,102 shares of the company's stock valued at $31,217,000 after acquiring an additional 1,296,382 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

UiPath Trading Up 2.1%

NYSE:PATH traded up $0.27 during trading hours on Tuesday, reaching $12.64. 6,356,866 shares of the company were exchanged, compared to its average volume of 11,315,849. The stock's 50-day moving average is $11.38 and its 200-day moving average is $12.70. UiPath Inc. has a twelve month low of $9.38 and a twelve month high of $19.09. The firm has a market cap of $6.97 billion, a PE ratio of -78.97 and a beta of 1.01.

Analyst Ratings Changes

PATH has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of UiPath from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Mizuho cut their price target on UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Evercore ISI reduced their price objective on UiPath from $16.00 to $12.00 and set an "in-line" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company dropped their target price on UiPath from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $13.00 price target on shares of UiPath in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $12.72.

Insider Buying and Selling

In other news, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction that occurred on 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 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 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 value 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. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.19% of the company's stock.

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.