M&T Bank Corp Has $232,000 Stock Position in UiPath, Inc. (NYSE:PATH)

M&T Bank Corp reduced its position in UiPath, Inc. (NYSE:PATH) by 26.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,586 shares of the company’s stock after selling 7,949 shares during the quarter. M&T Bank Corp’s holdings in UiPath were worth $232,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PATH. Proficio Capital Partners LLC bought a new stake in shares of UiPath in the 4th quarter valued at $307,000. Raymond James Financial Inc. bought a new position in UiPath during the fourth quarter worth $5,506,000. EverSource Wealth Advisors LLC boosted its stake in UiPath by 141.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after acquiring an additional 1,742 shares in the last quarter. Corient Private Wealth LLC boosted its stake in UiPath by 24.5% during the fourth quarter. Corient Private Wealth LLC now owns 17,133 shares of the company’s stock worth $218,000 after acquiring an additional 3,374 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in UiPath by 72.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,970 shares of the company’s stock worth $457,000 after acquiring an additional 15,089 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

UiPath Stock Performance

NYSE PATH opened at $12.55 on Friday. The company has a market capitalization of $6.71 billion, a PE ratio of -104.57, a price-to-earnings-growth ratio of 16.15 and a beta of 1.04. The company has a 50-day simple moving average of $12.75 and a 200 day simple moving average of $12.45. UiPath, Inc. has a 52-week low of $9.38 and a 52-week high of $15.93.

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

Insider Activity

In other news, CFO Ashim Gupta sold 98,795 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were 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 directly owned 987,322 shares in the company, valued at approximately $11,857,737.22. This trade represents a 9.10% 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, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $12.44, for a total transaction 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 $64,045,797.44. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 695,117 shares of company stock valued at $8,716,844 in the last quarter. Corporate insiders own 23.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PATH. Canaccord Genuity Group set a $16.00 price objective on shares of UiPath and gave the stock a “buy” rating in a report on Monday, June 2nd. Royal Bank Of Canada increased their target price on shares of UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Friday, May 30th. Mizuho lowered their target price on shares of UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company reiterated an “equal weight” rating on shares of UiPath in a report on Friday, May 30th. Finally, Morgan Stanley increased their target price on shares of UiPath from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.83.

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.