UiPath Inc. (NYSE:PATH) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lowered its stake in shares of UiPath Inc. (NYSE:PATH) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,250 shares of the healthcare company’s stock after selling 3,554 shares during the quarter. Blair William & Co. IL’s holdings in UiPath were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after buying an additional 2,133,078 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of UiPath by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock worth $35,296,000 after buying an additional 754,519 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of UiPath by 20.8% during the second quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the healthcare company’s stock worth $32,371,000 after buying an additional 439,344 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of UiPath by 70.0% during the second quarter. Federated Hermes Inc. now owns 1,143,574 shares of the healthcare company’s stock worth $14,501,000 after buying an additional 470,740 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of UiPath by 122.6% during the fourth quarter. First Trust Advisors LP now owns 1,132,984 shares of the healthcare company’s stock worth $28,143,000 after buying an additional 624,003 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Trading Up 0.8 %

PATH stock opened at $12.58 on Friday. The firm has a 50 day moving average of $12.14 and a 200-day moving average of $15.64. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $27.87. The company has a market cap of $7.21 billion, a price-to-earnings ratio of -78.63 and a beta of 0.87.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The firm had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PATH has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Evercore ISI lifted their price objective on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. Macquarie lowered UiPath from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $12.00 in a report on Monday, June 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of UiPath in a report on Friday, September 6th. Finally, William Blair lowered UiPath from an “outperform” rating to a “market perform” rating in a report on Thursday, May 30th. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.71.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the transaction, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.37% of the company’s stock.

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, 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.