The near-total exit by Assenagon Asset Management, a $6.0M holder, is the strongest signal in this cluster. Monitor UiPath's next earnings release for any guidance weakness or competitive pressure that could validate this selling. The lack of any meaningful institutional buying suggests the bearish thesis remains intact.
Executive Summary
A bearish institutional cluster formed in UiPath (PATH) during Q3 2026, with three asset managers reducing positions by a net $5.4M while only one tiny buyer (Td Waterhouse Canada) added a negligible $15K. The most aggressive seller, Assenagon Asset Management, cut its stake by 89.1%, exiting nearly all of its $6.0M position. This concentrated selling by active managers suggests a shared negative thesis on UiPath's growth trajectory or competitive positioning.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$5.4M
▲ Buyers (1)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Td Waterhouse Canada | DOUBLED | +129.9% | $24.0K | $15.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | EXIT | -89.1% | $6.0M | -$5.2M |
| Concurrent Investment Advisors | TRIM | -59.7% | $299.0K | -$157.0K |
| Farther Finance Advisors | TRIM | -40.5% | $181.0K | -$54.0K |
Key Facts
- Net institutional selling of ~$5.4M in Q3 2026, with 3 sellers vs 1 buyer
- Assenagon Asset Management exited 89.1% of its position, selling $5.2M worth of shares
- Farther Finance Advisors trimmed 40.5% of its stake, reducing by $54K
- Concurrent Investment Advisors cut 59.7% of its position, selling $157K
- Only buyer, Td Waterhouse Canada, added a trivial $15K (doubled a tiny $9K base to $24K)
- 13F data is ~45 days stale; positions may have changed since quarter-end
Financial Impact
Three institutional sellers reduced holdings by a net $5.4M, led by Assenagon's $5.2M near-exit. The sole buyer added only $15K, making the cluster overwhelmingly one-sided.
Risk Factors
- 13F data is stale (45-day lag); the cluster may have already reversed
- The selling is concentrated in one large fund (Assenagon), reducing the breadth of the signal
- No insider buying (no Form 4 confluence) weakens the cluster's conviction
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-PATH-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Insider Cluster | — | awaiting T+5 | — | — |
Oct 22, 2026 4d ago | 144 | $14.13 | awaiting T+5 | — | — |
Oct 19, 2026 7d ago | Insider Cluster | $13.43 | awaiting T+5 | — | — |
Oct 16, 2026 10d ago | Institutional Cluster | $13.12 $14.13 | ▼ −7.66% | ▼ −7.80% | — |
Oct 13, 2026 13d ago | 144 | $13.25 $13.43 | ▲ +1.36% | ▲ +2.51% | — |
Oct 13, 2026 13d ago | Insider Cluster | $13.06 $13.71 | ▼ −4.98% | ▼ −4.52% | — |
Oct 12, 2026 14d ago | Institutional Cluster | $13.32 $13.12 | ▼ −1.50% | ▼ −0.01% | — |
Oct 9, 2026 17d ago | 144 | $13.32 $13.12 | ▼ −1.50% | ▼ −0.01% | — |
Sep 21, 2026 5w ago | Insider Cluster | $13.25 $12.32 | ▲ +7.02% | ▲ +5.83% | — |
Sep 17, 2026 5w ago | Insider Cluster | $13.39 $12.46 | ▼ −6.95% | ▼ −8.21% | — |
US Market Status
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