Wells Fargo & Company MN Increases Stock Holdings in UiPath Inc. (NYSE:PATH)

Wells Fargo & Company MN grew its position in UiPath Inc. (NYSE:PATH - Free Report) by 58.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 545,166 shares of the company's stock after acquiring an additional 201,645 shares during the period. Wells Fargo & Company MN owned 0.10% of UiPath worth $6,929,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its holdings in UiPath by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company's stock worth $187,000 after acquiring an additional 736 shares during the last quarter. V Square Quantitative Management LLC grew its stake 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 last quarter. First Horizon Advisors Inc. increased its holdings in shares of 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 in the last quarter. Amalgamated Bank raised its position in UiPath by 3.1% in the 4th quarter. Amalgamated Bank now owns 28,148 shares of the company's stock worth $358,000 after purchasing an additional 836 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock worth $31,000 after buying an additional 1,152 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

Insiders Place Their Bets

In related news, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction 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 approximately $3,208,739.29. This trade represents a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 22.37% of the company's stock.

UiPath Stock Up 4.1 %

PATH traded up $0.45 during trading on Thursday, hitting $11.32. 2,244,793 shares of the company's stock were exchanged, compared to its average volume of 10,533,753. The stock has a market cap of $6.24 billion, a P/E ratio of -70.59 and a beta of 1.04. The business's 50 day moving average is $11.40 and its two-hundred day moving average is $12.76. UiPath Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $20.95.

Analyst Ratings Changes

Several brokerages have recently issued reports on PATH. Canaccord Genuity Group cut their price target on UiPath from $19.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Scotiabank cut their price objective on shares of UiPath from $15.00 to $12.00 and set a "sector perform" rating on the stock in a report on Thursday, March 13th. UBS Group reduced their price target on UiPath from $14.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $13.00 price objective on shares of UiPath in a report on Wednesday, March 26th. Finally, Evercore ISI cut their target price on UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a research note on Thursday, March 13th. Two research 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $12.72.

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.