Raymond James Financial Services Advisors Inc. lowered its stake in shares of UiPath Inc. (NYSE:PATH – Get Rating) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,375 shares of the healthcare company’s stock after selling 1,424 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in UiPath were worth $711,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in UiPath in the second quarter valued at approximately $436,988,000. ARK Investment Management LLC increased its stake in UiPath by 22.6% during the third quarter. ARK Investment Management LLC now owns 46,084,074 shares of the healthcare company’s stock worth $581,120,000 after purchasing an additional 8,488,829 shares during the period. Altimeter Capital Management LP grew its holdings in shares of UiPath by 175.4% in the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock valued at $71,579,000 after purchasing an additional 5,270,194 shares in the last quarter. State Street Corp increased its position in shares of UiPath by 251.1% during the second quarter. State Street Corp now owns 4,996,369 shares of the healthcare company’s stock worth $90,884,000 after acquiring an additional 3,573,238 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in UiPath in the 1st quarter valued at about $64,462,000. 56.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on PATH shares. Barclays reduced their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 10th. Bank of America reduced their target price on shares of UiPath from $20.00 to $18.00 in a research note on Wednesday, September 28th. Truist Financial decreased their price target on UiPath from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, December 2nd. Evercore ISI decreased their price objective on shares of UiPath to $17.00 in a report on Friday, December 2nd. Finally, Royal Bank of Canada decreased their target price on UiPath from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday, November 28th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, UiPath currently has an average rating of “Hold” and an average price target of $17.97.
UiPath Stock Performance
UiPath (NYSE:PATH – Get Rating) last issued its earnings results on Thursday, December 1st. The healthcare company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.09. UiPath had a negative return on equity of 17.19% and a negative net margin of 34.99%. The company had revenue of $262.74 million for the quarter, compared to analyst estimates of $248.07 million. On average, research analysts forecast that UiPath Inc. will post -0.55 EPS for the current fiscal year.
Insider Activity at UiPath
In related news, CAO Hitesh Ramani sold 2,100 shares of the business’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $14.45, for a total transaction of $30,345.00. Following the transaction, the chief accounting officer now owns 438,452 shares of the company’s stock, valued at $6,335,631.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other UiPath news, CFO Ashim Gupta sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $13.50, for a total value of $135,000.00. Following the completion of the sale, the chief financial officer now owns 1,515,341 shares in the company, valued at approximately $20,457,103.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Hitesh Ramani sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $14.45, for a total value of $30,345.00. Following the sale, the chief accounting officer now owns 438,452 shares in the company, valued at $6,335,631.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,500 shares of company stock worth $391,911. 31.88% of the stock is owned by insiders.
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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.
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