Frontier Capital Management Co. LLC Sells 221,189 Shares of UiPath Inc. (NYSE:PATH)

Frontier Capital Management Co. LLC lessened its position in shares of UiPath Inc. (NYSE:PATH - Free Report) by 73.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,270 shares of the company's stock after selling 221,189 shares during the period. Frontier Capital Management Co. LLC's holdings in UiPath were worth $995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PATH. Circumference Group LLC grew its position in UiPath by 25.9% in the fourth quarter. Circumference Group LLC now owns 365,000 shares of the company's stock valued at $4,639,000 after purchasing an additional 75,000 shares in the last quarter. Deutsche Bank AG raised its stake in UiPath by 280.3% in the fourth quarter. Deutsche Bank AG now owns 1,505,585 shares of the company's stock valued at $19,136,000 after buying an additional 1,109,669 shares during the period. Caption Management LLC bought a new position in UiPath during the fourth quarter worth $381,000. Cetera Investment Advisers boosted its holdings in shares of UiPath by 55.1% during the 4th quarter. Cetera Investment Advisers now owns 73,044 shares of the company's stock worth $928,000 after buying an additional 25,954 shares during the period. Finally, Bridgefront Capital LLC bought a new position in shares of UiPath during the fourth quarter worth approximately $668,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 98,795 shares of the company'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 transaction of $1,186,527.95. Following the sale, the chief financial officer now directly owns 987,322 shares of the company's stock, valued at $11,857,737.22. This represents a 9.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Hitesh Ramani sold 12,500 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 22.37% of the company's stock.

UiPath Stock Up 1.3%

NYSE:PATH traded up $0.17 during trading hours on Tuesday, hitting $13.26. 6,528,390 shares of the stock traded hands, compared to its average volume of 10,792,074. The stock has a 50 day moving average price of $11.10 and a 200 day moving average price of $12.70. The company has a market cap of $7.31 billion, a price-to-earnings ratio of -82.88 and a beta of 1.01. UiPath Inc. has a 1 year low of $9.38 and a 1 year high of $20.95.

Analysts Set New Price Targets

Several research firms have recently issued reports on PATH. UBS Group reduced their target price on UiPath from $14.00 to $10.00 and set a "sell" rating on the stock in a report on Thursday, March 13th. BMO Capital Markets reduced their price target on UiPath from $16.00 to $11.50 and set a "market perform" rating on the stock in a report on Friday, March 14th. Canaccord Genuity Group decreased their price objective on UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $13.00 price objective on shares of UiPath in a research note on Wednesday, March 26th. Finally, Mizuho decreased their target price on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.72.

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.