Northern Trust Corp Decreases Stock Position in UiPath, Inc. $PATH

Northern Trust Corp lessened its position in UiPath, Inc. (NYSE:PATH) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,294,705 shares of the company’s stock after selling 8,502 shares during the quarter. Northern Trust Corp owned about 0.42% of UiPath worth $23,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PATH. Versant Capital Management Inc lifted its position 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 acquiring 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 approximately $36,000. Brooklyn Investment Group increased its holdings in shares of UiPath by 314.3% in the first quarter. Brooklyn Investment Group now owns 4,508 shares of the company’s stock valued at $46,000 after purchasing an additional 3,420 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of UiPath in the first quarter valued at approximately $72,000. Finally, MRP Capital Investments LLC acquired a new stake in shares of UiPath in the first quarter valued at approximately $82,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling at UiPath

In other news, CEO Daniel Dines sold 9,988 shares of UiPath stock in a transaction 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 completion of the sale, the chief executive officer directly owned 4,598,388 shares of the company’s stock, valued at approximately $55,180,656. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 831,310 shares of company stock valued at $10,428,922 over the last ninety days. Insiders own 23.19% of the company’s stock.

UiPath Stock Down 1.2%

PATH stock opened at $11.12 on Monday. The business has a fifty day moving average of $11.91 and a two-hundred day moving average of $11.93. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of -92.66, a price-to-earnings-growth ratio of 14.57 and a beta of 1.02. 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 (EPS) for the quarter, topping 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 quarter last year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that UiPath, Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on PATH shares. Truist Financial increased their price target on UiPath from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday, May 30th. Zacks Research raised UiPath to a “hold” rating in a report on Friday, August 8th. Evercore ISI increased their price target on UiPath from $11.00 to $15.00 and gave the company an “in-line” rating in a report on Friday, May 30th. Royal Bank Of Canada increased their price target on UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Friday, May 30th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of UiPath in a research note on Friday, May 30th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.