Graham Capital Management L.P. Sells 92,242 Shares of UiPath Inc. (NYSE:PATH)

Graham Capital Management L.P. lowered its position in shares of UiPath Inc. (NYSE:PATH - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 297,934 shares of the company's stock after selling 92,242 shares during the quarter. Graham Capital Management L.P. owned approximately 0.05% of UiPath worth $3,787,000 at the end of the most recent reporting period.

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

UiPath Price Performance

Shares of NYSE PATH traded down $0.18 during mid-day trading on Wednesday, hitting $13.08. 7,413,086 shares of the stock traded hands, compared to its average volume of 10,799,156. UiPath Inc. has a twelve month low of $9.38 and a twelve month high of $20.95. The company has a market cap of $7.21 billion, a PE ratio of -81.75 and a beta of 1.01. The firm has a 50 day simple moving average of $11.13 and a two-hundred day simple moving average of $12.71.

Wall Street Analysts Forecast Growth

PATH has been the subject of a number of research analyst reports. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a research note on Wednesday, March 26th. Bank of America reissued an "underperform" rating and issued a $10.00 target price (down from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Barclays decreased their target price on UiPath from $15.00 to $12.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Canaccord Genuity Group decreased their target price on UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company decreased their target price on UiPath from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. 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's stock. According to MarketBeat, UiPath currently has a consensus rating of "Hold" and an average target price of $12.72.

Insider Activity

In related news, CFO Ashim Gupta sold 98,795 shares of the business's 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 sale, the chief financial officer now directly owns 987,322 shares of the company's stock, valued at $11,857,737.22. The trade was a 9.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Hitesh Ramani sold 12,500 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the completion of 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 disclosure for this sale can be found here. 22.37% of the stock is owned by company 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.