Entropy Technologies LP Cuts Position in UiPath Inc. (NYSE:PATH)

Entropy Technologies LP trimmed its stake in UiPath Inc. (NYSE:PATH) by 9.8% in the 4th quarter, HoldingsChannel reports. The fund owned 115,999 shares of the company’s stock after selling 12,579 shares during the quarter. Entropy Technologies LP’s holdings in UiPath were worth $1,474,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PATH. Ontario Teachers Pension Plan Board raised its holdings in UiPath by 136.0% in the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after purchasing an additional 62,650 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of UiPath by 60.1% during the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after acquiring an additional 209,300 shares in the last quarter. Stifel Financial Corp lifted its position in UiPath by 30.1% during the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after acquiring an additional 74,959 shares during the last quarter. Senvest Management LLC boosted its stake in UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in UiPath by 667.7% in the third quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after acquiring an additional 88,468 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, December 6th. Barclays dropped their price target on UiPath from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. BMO Capital Markets increased their price objective on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Finally, UBS Group initiated coverage on shares of UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.44.

UiPath Stock Down 2.3 %

UiPath stock opened at $13.96 on Monday. The business’s 50-day moving average price is $13.76 and its 200 day moving average price is $12.96. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of -87.22 and a beta of 0.98. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

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.