Arizona State Retirement System Lowers Stock Position in UiPath, Inc. (NYSE:PATH)

Arizona State Retirement System cut its holdings in UiPath, Inc. (NYSE:PATH) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,598 shares of the company’s stock after selling 1,512 shares during the period. Arizona State Retirement System’s holdings in UiPath were worth $1,242,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PATH. Tidal Investments LLC lifted its stake in shares of 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 purchasing an additional 797 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of 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 during the period. United Capital Financial Advisors LLC grew its holdings 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 during the period. NewEdge Advisors LLC grew its holdings in 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 acquiring an additional 1,003 shares during the period. Finally, Xponance Inc. grew its holdings in UiPath by 2.0% during the first quarter. Xponance Inc. now owns 54,246 shares of the company’s stock worth $559,000 after acquiring an additional 1,054 shares during the period. Institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PATH. DA Davidson upgraded UiPath to a “hold” rating in a research report on Monday, June 9th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Friday, May 30th. Royal Bank Of Canada lifted their price objective on UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a research note on Friday, May 30th. Barclays reaffirmed an “equal weight” rating on shares of UiPath in a research note on Friday, May 30th. Finally, Scotiabank lifted their price objective on UiPath from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.83.

UiPath Price Performance

PATH opened at $12.55 on Friday. The stock has a market cap of $6.71 billion, a P/E ratio of -104.57, a P/E/G ratio of 16.49 and a beta of 1.04. The stock’s 50 day simple moving average is $12.75 and its 200 day simple moving average is $12.45. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $15.93.

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

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 56,322 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $12.72, for a total transaction of $716,415.84. Following the transaction, the chief financial officer directly owned 859,991 shares in the company, valued at $10,939,085.52. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $12.38, for a total value of $557,100.00. Following the completion of the transaction, the chief executive officer owned 4,968,376 shares in the company, valued at $61,508,494.88. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 695,117 shares of company stock worth $8,716,844. 23.19% of the stock is owned by corporate insiders.

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.