Rockefeller Capital Management L.P. Cuts Stock Position in UiPath Inc. (NYSE:PATH)

Rockefeller Capital Management L.P. reduced its stake in UiPath Inc. (NYSE:PATH - Free Report) by 53.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,552 shares of the company's stock after selling 161,137 shares during the period. Rockefeller Capital Management L.P.'s holdings in UiPath were worth $1,761,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jaffetilchin Investment Partners LLC increased its position in shares of UiPath by 211.8% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 14,484 shares of the company's stock valued at $184,000 after acquiring an additional 9,838 shares during the period. Covestor Ltd grew its position in UiPath by 590.2% during the 4th quarter. Covestor Ltd now owns 9,787 shares of the company's stock worth $125,000 after purchasing an additional 8,369 shares during the period. Neuberger Berman Group LLC raised its stake in shares of UiPath by 42.1% during the 4th quarter. Neuberger Berman Group LLC now owns 2,526,348 shares of the company's stock valued at $32,113,000 after buying an additional 748,940 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of UiPath in the 4th quarter valued at about $5,506,000. Finally, Invesco Ltd. grew its holdings in UiPath by 10.5% during the fourth quarter. Invesco Ltd. now owns 382,800 shares of the company's stock worth $4,865,000 after acquiring an additional 36,332 shares during the period. Institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

PATH has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of UiPath from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Scotiabank lowered their target price on shares of UiPath from $15.00 to $12.00 and set a "sector perform" 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 for the company in a research note on Tuesday, April 15th. Bank of America reaffirmed an "underperform" rating and issued a $10.00 price target (down previously from $18.00) on shares of UiPath in a report on Thursday, March 13th. Finally, Evercore ISI cut their price objective on UiPath from $16.00 to $12.00 and set an "in-line" rating for the company in a research report on Thursday, March 13th. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.72.

UiPath Stock Performance

Shares of NYSE PATH traded up $0.26 during trading on Friday, hitting $11.58. 3,557,078 shares of the company were exchanged, compared to its average volume of 10,579,971. UiPath Inc. has a 12-month low of $9.38 and a 12-month high of $20.95. The company has a fifty day moving average price of $11.33 and a 200-day moving average price of $12.75. The firm has a market capitalization of $6.38 billion, a PE ratio of -72.34 and a beta of 1.04.

Insider Transactions at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were 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 approximately $3,208,739.29. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.37% of the company's stock.

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.