Federated Hermes Inc. Sells 620,599 Shares of UiPath, Inc. $PATH

Federated Hermes Inc. trimmed its position in UiPath, Inc. (NYSE:PATH) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,427,722 shares of the company’s stock after selling 620,599 shares during the quarter. Federated Hermes Inc. owned about 1.40% of UiPath worth $99,383,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PATH. Hudson Bay Capital Management LP bought a new stake in UiPath in the 2nd quarter worth approximately $102,559,000. Norges Bank purchased a new position in shares of UiPath in the second quarter valued at $68,451,000. AQR Capital Management LLC increased its position in UiPath by 76.0% in the second quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after purchasing an additional 4,926,341 shares during the last quarter. TFG Asset Management GP Ltd raised its stake in UiPath by 53.3% during the second quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock valued at $175,645,000 after purchasing an additional 4,772,244 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in UiPath during the second quarter valued at $59,561,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 67,468 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $16.10, for a total value of $1,086,234.80. Following the completion of the sale, the chief financial officer owned 557,028 shares in the company, valued at approximately $8,968,150.80. The trade was a 10.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $15.01, for a total value of $675,450.00. Following the completion of the transaction, the chief executive officer directly owned 27,893,585 shares in the company, valued at approximately $418,682,710.85. This trade represents a 0.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,085,048 shares of company stock valued at $17,997,644 in the last quarter. 23.19% of the stock is currently owned by company insiders.

UiPath Stock Performance

Shares of NYSE PATH opened at $14.10 on Thursday. UiPath, Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $19.84. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 4.21 and a beta of 1.08. The business’s 50 day moving average price is $15.82 and its 200-day moving average price is $13.99.

UiPath (NYSE:PATH) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. UiPath had a return on equity of 3.73% and a net margin of 14.79%.The company had revenue of $411.11 million for the quarter, compared to the consensus estimate of $392.46 million. During the same quarter in the prior year, the company posted $0.11 EPS. UiPath’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts predict that UiPath, Inc. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PATH. Wells Fargo & Company boosted their target price on shares of UiPath from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 4th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Thursday, December 4th. Mizuho upped their price objective on UiPath from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. TD Cowen reiterated a “hold” rating on shares of UiPath in a report on Thursday, December 4th. Finally, Evercore ISI boosted their target price on UiPath from $15.00 to $17.00 and gave the company an “in-line” rating in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.00.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.