Legal & General Group Plc Sells 77,524 Shares of UiPath Inc. (NYSE:PATH)

Legal & General Group Plc reduced its stake in UiPath Inc. (NYSE:PATH - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 613,534 shares of the company's stock after selling 77,524 shares during the quarter. Legal & General Group Plc owned approximately 0.11% of UiPath worth $7,798,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PATH. Smartleaf Asset Management LLC boosted its position in shares of 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 acquiring an additional 1,152 shares during the period. First Horizon Advisors Inc. grew its position in UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock worth $32,000 after buying an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in UiPath by 141.4% in the 4th 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 position 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 purchasing an additional 759 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of UiPath in the fourth quarter valued at $50,000. 62.50% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 directly owns 314,891 shares of the company's stock, valued at approximately $3,208,739.29. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Mizuho decreased their target price on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Scotiabank cut their target price on UiPath from $15.00 to $12.00 and set a "sector perform" rating for the company in a research 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 research report on Thursday, March 13th. BMO Capital Markets reduced their target price 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, Evercore ISI decreased their target price on UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, UiPath presently has a consensus rating of "Hold" and an average target price of $12.72.

UiPath Stock Performance

Shares of UiPath stock traded up $0.49 on Thursday, reaching $11.36. 2,812,128 shares of the stock were exchanged, compared to its average volume of 10,536,259. UiPath Inc. has a one year low of $9.38 and a one year high of $20.95. The firm's 50 day moving average is $11.40 and its 200-day moving average is $12.76. The firm has a market cap of $6.27 billion, a PE ratio of -70.91 and a beta of 1.04.

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.