Cerity Partners LLC Sells 24,800 Shares of UiPath, Inc. (NYSE:PATH)

Cerity Partners LLC decreased its position in UiPath, Inc. (NYSE:PATH) by 9.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 242,905 shares of the company’s stock after selling 24,800 shares during the period. Cerity Partners LLC’s holdings in UiPath were worth $2,502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Creek Financial Management LLC purchased a new stake in shares of UiPath in the 1st quarter worth about $266,000. Invesco Ltd. raised its position in shares of UiPath by 10.5% in the 4th quarter. Invesco Ltd. now owns 382,800 shares of the company’s stock worth $4,865,000 after purchasing an additional 36,332 shares during the last quarter. Pallas Capital Advisors LLC raised its position in shares of UiPath by 32.2% in the 1st quarter. Pallas Capital Advisors LLC now owns 84,776 shares of the company’s stock worth $873,000 after purchasing an additional 20,667 shares during the last quarter. Deutsche Bank AG raised its position in shares of UiPath by 280.3% in the 4th quarter. Deutsche Bank AG now owns 1,505,585 shares of the company’s stock worth $19,136,000 after purchasing an additional 1,109,669 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of UiPath in the 4th quarter worth about $71,191,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling

In other UiPath news, CEO Daniel Dines sold 45,000 shares of the business’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $12.38, for a total transaction of $557,100.00. Following the transaction, the chief executive officer owned 4,968,376 shares of the company’s stock, valued at approximately $61,508,494.88. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 56,322 shares of the business’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $12.72, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 695,117 shares of company stock worth $8,716,844 over the last ninety days. Corporate insiders own 23.19% of the company’s stock.

UiPath Price Performance

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

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. UiPath had a negative return on equity of 3.05% and a negative net margin of 4.65%. The company had revenue of $356.62 million during the quarter, compared to analysts’ expectations of $332.17 million. During the same period last year, the business earned $0.13 earnings per share. 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 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Mizuho lowered their price target on UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Canaccord Genuity Group set a $16.00 price target on shares of UiPath and gave the stock a “buy” rating in a research note on Monday, June 2nd. Morgan Stanley lifted their price target on shares of UiPath from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday, June 2nd. Royal Bank Of Canada boosted their price target on UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a research note on Friday, May 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.83.

UiPath 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.