Beacon Pointe Advisors LLC Sells 53,196 Shares of UiPath Inc. (NYSE:PATH)

Beacon Pointe Advisors LLC trimmed its stake in UiPath Inc. (NYSE:PATH - Free Report) by 45.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,937 shares of the company's stock after selling 53,196 shares during the quarter. Beacon Pointe Advisors LLC's holdings in UiPath were worth $800,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PATH. Oxford Asset Management LLP acquired a new position in UiPath during the fourth quarter worth approximately $898,000. Susquehanna Fundamental Investments LLC bought a new position in shares of UiPath during the 4th quarter worth approximately $7,220,000. Nebula Research & Development LLC acquired a new position in shares of UiPath during the 4th quarter worth approximately $187,000. Voya Investment Management LLC raised its stake in UiPath by 321.3% in the 4th quarter. Voya Investment Management LLC now owns 783,111 shares of the company's stock valued at $9,953,000 after acquiring an additional 597,233 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in UiPath during the 4th quarter valued at $132,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Insider Activity

In other news, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction dated Thursday, April 3rd. The shares were 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 owns 314,891 shares of the company's stock, valued at approximately $3,208,739.29. This represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 98,795 shares of UiPath stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total transaction 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 trade represents a 9.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PATH shares. Bank of America reissued an "underperform" rating and issued a $10.00 price objective (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. UBS Group cut their price objective 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. Barclays decreased their target price on UiPath from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company dropped their price target on UiPath from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a report on Wednesday, March 26th. Two equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.72.

UiPath Price Performance

PATH traded up $0.05 during trading on Tuesday, hitting $11.82. 9,390,135 shares of the stock traded hands, compared to its average volume of 10,741,960. The business has a 50 day moving average price of $11.07 and a 200 day moving average price of $12.71. UiPath Inc. has a twelve month low of $9.38 and a twelve month high of $20.95. The company has a market cap of $6.52 billion, a price-to-earnings ratio of -73.84 and a beta of 1.01.

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.