Man Group plc Has $6.20 Million Holdings in UiPath Inc. (NYSE:PATH)

Man Group plc cut its holdings in UiPath Inc. (NYSE:PATH) by 60.3% during the 4th quarter, HoldingsChannel reports. The fund owned 488,055 shares of the company’s stock after selling 740,073 shares during the quarter. Man Group plc’s holdings in UiPath were worth $6,203,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. CIBC Asset Management Inc grew its stake in shares of 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 in the last quarter. V Square Quantitative Management LLC grew its stake in shares of UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after acquiring an additional 759 shares in the last quarter. First Horizon Advisors Inc. grew its stake in UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after buying an additional 804 shares in the last quarter. Amalgamated Bank grew its stake in UiPath by 3.1% during the fourth quarter. Amalgamated Bank now owns 28,148 shares of the company’s stock worth $358,000 after buying an additional 836 shares in the last quarter. Finally, United Capital Financial Advisors LLC increased its holdings in UiPath by 8.6% in the 4th quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company’s stock valued at $156,000 after buying an additional 971 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Price Performance

Shares of NYSE PATH opened at $12.44 on Wednesday. The company has a 50 day simple moving average of $11.25 and a 200 day simple moving average of $12.72. The firm has a market cap of $6.86 billion, a PE ratio of -77.75 and a beta of 1.01. UiPath Inc. has a 1 year low of $9.38 and a 1 year high of $20.36.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 98,795 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total value of $1,186,527.95. Following the completion of the transaction, the chief financial officer now owns 987,322 shares in the company, valued at $11,857,737.22. This trade represents a 9.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $127,375.00. Following the transaction, the chief accounting officer now owns 314,891 shares of the company’s stock, 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 owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PATH shares. BMO Capital Markets reduced 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 report on Friday, March 14th. Morgan Stanley reduced their price target on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. 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. Wells Fargo & Company reduced their price target on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, Canaccord Genuity Group reduced their price target on shares of UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, UiPath has an average rating of “Hold” and an average target price 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.