UiPath, Inc. (NYSE:PATH) Stock Position Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of UiPath, Inc. (NYSE:PATH) by 6.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,269,743 shares of the company’s stock after selling 168,013 shares during the period. Bank of New York Mellon Corp owned about 0.41% of UiPath worth $23,378,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in UiPath by 3.7% during the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock worth $286,000 after buying an additional 797 shares during the period. True Wealth Design LLC raised its stake in UiPath by 18.4% in the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after purchasing an additional 801 shares in the last quarter. United Capital Financial Advisors LLC raised its stake in UiPath by 8.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company’s stock worth $156,000 after acquiring an additional 971 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of UiPath by 6.8% during the fourth quarter. NewEdge Advisors LLC now owns 15,809 shares of the company’s stock worth $201,000 after purchasing an additional 1,003 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after acquiring an additional 1,742 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Price Performance

NYSE PATH opened at $12.34 on Friday. The company has a market capitalization of $6.60 billion, a P/E ratio of -102.79, a PEG ratio of 16.24 and a beta of 1.04. UiPath, Inc. has a 12 month low of $9.38 and a 12 month high of $15.93. The company’s 50 day simple moving average is $12.75 and its 200 day simple moving average is $12.45.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The company had revenue of $356.62 million for the quarter, compared to analyst estimates of $332.17 million. During the same quarter in the prior year, the business posted $0.13 EPS. UiPath’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on PATH. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Friday, May 30th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of UiPath in a report on Friday, May 30th. Mizuho decreased their price target on UiPath from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Barclays restated an “equal weight” rating on shares of UiPath in a research report on Friday, May 30th. Finally, Truist Financial upped their price objective on UiPath from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.83.

Insider Buying and Selling

In other news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.44, for a total value of $559,800.00. Following the completion of the transaction, the chief executive officer owned 5,148,376 shares of the company’s stock, valued at approximately $64,045,797.44. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 98,795 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total value of $1,186,527.95. Following the completion of the transaction, the chief financial officer owned 987,322 shares in the company, valued at approximately $11,857,737.22. This represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,117 shares of company stock worth $8,159,744. Insiders own 23.19% of the company’s stock.

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, 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.