State of Tennessee Department of Treasury Acquires Shares of 21,029 UiPath Inc. (NYSE:PATH)

State of Tennessee Department of Treasury bought a new position in shares of UiPath Inc. (NYSE:PATH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,029 shares of the company's stock, valued at approximately $267,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PATH. Principal Financial Group Inc. grew its holdings in UiPath by 10.5% during the third quarter. Principal Financial Group Inc. now owns 36,685 shares of the company's stock valued at $470,000 after purchasing an additional 3,477 shares during the period. Everence Capital Management Inc. bought a new position in shares of UiPath during the fourth quarter worth $241,000. Diversified Trust Co acquired a new position in shares of UiPath in the 4th quarter valued at $715,000. Claro Advisors LLC bought a new stake in shares of UiPath in the 4th quarter valued at $142,000. Finally, Pallas Capital Advisors LLC increased its position in shares of UiPath by 9.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 64,109 shares of the company's stock valued at $815,000 after buying an additional 5,661 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PATH shares. Scotiabank lowered their price target on UiPath from $15.00 to $12.00 and set a "sector perform" rating for the company in a report on Thursday, March 13th. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a research note on Wednesday, March 26th. BMO Capital Markets cut their price target 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. Mizuho lowered their price objective on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Evercore ISI cut their price objective on shares of UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, UiPath currently has an average rating of "Hold" and a consensus target price of $12.72.

UiPath Price Performance

NYSE PATH traded up $0.34 on Thursday, hitting $12.44. 7,375,906 shares of the stock were exchanged, compared to its average volume of 10,760,350. The business's fifty day moving average is $11.06 and its 200 day moving average is $12.70. UiPath Inc. has a 52 week low of $9.38 and a 52 week high of $20.95. The company has a market capitalization of $6.86 billion, a PE ratio of -77.72 and a beta of 1.01.

Insider Activity

In other news, CAO Hitesh Ramani sold 12,500 shares of the firm's 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 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. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a 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 transaction, the chief financial officer now directly owns 987,322 shares in the company, 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. 22.37% of the stock is owned by 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.