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

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

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of UiPath by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company's stock worth $593,101,000 after purchasing an additional 576,458 shares in the last quarter. Senvest Management LLC boosted its position in shares of UiPath by 29.2% in the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock worth $178,890,000 after purchasing an additional 3,180,300 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of 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 purchasing an additional 2,072,089 shares in the last quarter. Norges Bank bought a new position in UiPath in the 4th quarter valued at approximately $71,191,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in UiPath by 35.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock valued at $69,385,000 after acquiring an additional 1,432,569 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PATH. BMO Capital Markets lowered their price objective on UiPath from $16.00 to $11.50 and set a "market perform" rating on the stock in a research report on Friday, March 14th. UBS Group lowered their price objective on UiPath from $14.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, March 13th. Scotiabank lowered their price target on UiPath from $15.00 to $12.00 and set a "sector perform" rating on the stock in a report on Thursday, March 13th. Canaccord Genuity Group lowered their price target on UiPath from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Finally, Mizuho lowered their price target on UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $12.72.

Insider Activity

In related news, CFO Ashim Gupta sold 98,795 shares of UiPath stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 987,322 shares in the company, valued at approximately $11,857,737.22. This trade represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Hitesh Ramani sold 12,500 shares of UiPath 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 completion of the transaction, the chief accounting officer now owns 314,891 shares of the company's stock, 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. Company insiders own 23.19% of the company's stock.

UiPath Stock Up 1.6%

PATH stock traded up $0.21 during midday trading on Wednesday, hitting $12.88. The company's stock had a trading volume of 4,181,627 shares, compared to its average volume of 10,895,887. UiPath Inc. has a 12 month low of $9.38 and a 12 month high of $19.09. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of -80.46 and a beta of 1.01. The company has a 50 day moving average of $11.41 and a two-hundred day moving average of $12.70.

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.