Assenagon Asset Management S.A. Cuts Stock Holdings in UiPath Inc. (NYSE:PATH)

Assenagon Asset Management S.A. lowered its stake in shares of UiPath Inc. (NYSE:PATH) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,271 shares of the healthcare company’s stock after selling 927 shares during the quarter. Assenagon Asset Management S.A.’s holdings in UiPath were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Tyler Stone Wealth Management bought a new stake in shares of UiPath in the 2nd quarter worth about $28,000. Fifth Third Bancorp increased its position in UiPath by 2,005.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after acquiring an additional 1,905 shares in the last quarter. Quarry LP bought a new position in shares of UiPath during the first quarter worth about $36,000. FNY Investment Advisers LLC acquired a new stake in shares of UiPath in the fourth quarter valued at approximately $40,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in UiPath during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on UiPath from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Morgan Stanley boosted their price objective on UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Mizuho boosted their price objective on UiPath from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. BMO Capital Markets upped their price target on UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, March 14th. Finally, Truist Financial reissued a “buy” rating and set a $32.00 price objective on shares of UiPath in a report on Wednesday, March 20th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, UiPath currently has a consensus rating of “Hold” and an average price target of $27.44.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.84, for a total transaction of $365,440.00. Following the sale, the chief financial officer now owns 87,505 shares in the company, valued at $1,998,614.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 31.03% of the company’s stock.

UiPath Stock Performance

Shares of PATH stock opened at $21.21 on Monday. UiPath Inc. has a one year low of $12.38 and a one year high of $27.87. The firm’s 50 day moving average price is $23.51 and its 200-day moving average price is $21.25. The firm has a market cap of $12.01 billion, a P/E ratio of -124.76 and a beta of 0.96.

UiPath (NYSE:PATH) last issued its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $405.25 million during the quarter, compared to analysts’ expectations of $383.32 million. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. As a group, research analysts predict that UiPath Inc. will post -0.04 EPS for the current fiscal year.

About UiPath

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.