Northern Trust Corp Increases Position in UiPath Inc. (NYSE:PATH)

Northern Trust Corp grew its holdings in UiPath Inc. (NYSE:PATH - Free Report) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,303,207 shares of the company's stock after buying an additional 208,307 shares during the period. Northern Trust Corp owned 0.42% of UiPath worth $29,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in UiPath by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company's stock valued at $187,000 after acquiring an additional 736 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after purchasing an additional 759 shares during the period. First Horizon Advisors Inc. raised its position 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 period. Amalgamated Bank grew its stake in shares of UiPath by 3.1% in the fourth quarter. Amalgamated Bank now owns 28,148 shares of the company's stock valued at $358,000 after buying an additional 836 shares in the last quarter. Finally, United Capital Financial Advisors LLC lifted its stake in UiPath by 8.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company's stock worth $156,000 after acquiring an additional 971 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PATH shares. Mizuho reduced their price target 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. Canaccord Genuity Group lowered their target price on shares of UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company cut their price objective on shares of UiPath from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a report on Wednesday, March 26th. Finally, UBS Group reduced their price target on shares of UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.72.

UiPath Stock Performance

PATH stock traded down $0.18 during trading on Wednesday, reaching $13.08. 7,413,086 shares of the company were exchanged, compared to its average volume of 10,778,644. The company has a market cap of $7.21 billion, a P/E ratio of -81.75 and a beta of 1.01. The stock's 50 day moving average price is $11.13 and its 200 day moving average price is $12.71. UiPath Inc. has a 52-week low of $9.38 and a 52-week high of $20.95.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 98,795 shares of the company's stock in a transaction 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 sale, the chief financial officer now directly owns 987,322 shares in the company, valued at $11,857,737.22. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction 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 in the company, valued at approximately $3,208,739.29. The trade was a 3.82% decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

UiPath Company 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.