UiPath, Inc. (NYSE:PATH) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in UiPath, Inc. (NYSE:PATH) by 42.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,861 shares of the company’s stock after selling 9,498 shares during the quarter. US Bancorp DE’s holdings in UiPath were worth $132,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of UiPath by 198.6% in the first quarter. Versant Capital Management Inc now owns 2,962 shares of the company’s stock valued at $31,000 after buying an additional 1,970 shares in the last quarter. CX Institutional acquired a new stake in shares of UiPath in the first quarter valued at about $36,000. True Wealth Design LLC grew its stake 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 buying an additional 801 shares in the last quarter. MRP Capital Investments LLC acquired a new stake in shares of UiPath in the first quarter valued at about $82,000. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of UiPath in the first quarter valued at about $105,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PATH. BMO Capital Markets increased their target price on UiPath from $11.50 to $15.50 and gave the company a “market perform” rating in a research note on Friday, May 30th. Royal Bank Of Canada raised 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. Evercore ISI raised their price objective on UiPath from $11.00 to $15.00 and gave the company an “in-line” rating in a research note on Friday, May 30th. DA Davidson upgraded UiPath to a “hold” rating in a research note on Tuesday, July 22nd. Finally, Scotiabank raised 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, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.83.

Insider Activity

In related news, CEO Daniel Dines sold 9,988 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $12.00, for a total value of $119,856.00. Following the sale, the chief executive officer owned 4,598,388 shares of the company’s stock, valued at approximately $55,180,656. This trade represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 831,310 shares of company stock valued at $10,428,922. Company insiders own 23.19% of the company’s stock.

UiPath Stock Up 2.3%

NYSE:PATH opened at $10.98 on Friday. The business’s 50 day moving average is $12.22 and its two-hundred day moving average is $12.18. UiPath, Inc. has a 52 week low of $9.38 and a 52 week high of $15.93. The company has a market cap of $5.87 billion, a PE ratio of -91.49, a P/E/G ratio of 14.36 and a beta of 1.03.

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

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.