Citigroup Inc. Sells 1,899,713 Shares of UiPath, Inc. $PATH

Citigroup Inc. decreased its holdings in UiPath, Inc. (NYSE:PATH) by 43.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,453,554 shares of the company’s stock after selling 1,899,713 shares during the quarter. Citigroup Inc. owned about 0.46% of UiPath worth $32,829,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of UiPath in the 2nd quarter worth about $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of UiPath during the 2nd quarter worth approximately $55,000. Covestor Ltd boosted its position in shares of UiPath by 17.7% during the third quarter. Covestor Ltd now owns 6,522 shares of the company’s stock valued at $87,000 after purchasing an additional 981 shares in the last quarter. CX Institutional grew its stake in UiPath by 37.4% in the third quarter. CX Institutional now owns 6,888 shares of the company’s stock worth $92,000 after purchasing an additional 1,874 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its holdings in UiPath by 507.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 7,502 shares of the company’s stock worth $100,000 after purchasing an additional 6,266 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PATH. Weiss Ratings restated a “hold (c)” rating on shares of UiPath in a report on Monday, December 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday, December 4th. DA Davidson raised their target price on UiPath from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Morgan Stanley boosted their price target on UiPath from $15.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 9th. Finally, Wells Fargo & Company increased their price objective on shares of UiPath from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, UiPath presently has an average rating of “Hold” and a consensus price target of $15.77.

UiPath Price Performance

Shares of PATH stock opened at $9.95 on Thursday. UiPath, Inc. has a one year low of $9.38 and a one year high of $19.84. The company’s fifty day moving average price is $14.20 and its 200-day moving average price is $13.96. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.38 and a beta of 1.07.

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

Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 67,468 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $16.10, for a total transaction of $1,086,234.80. Following the completion of the transaction, the chief financial officer owned 557,028 shares in the company, valued at approximately $8,968,150.80. This represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $19.21, for a total transaction of $864,450.00. Following the transaction, the chief executive officer directly owned 29,153,585 shares of the company’s stock, valued at $560,040,367.85. The trade was a 0.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 950,048 shares of company stock worth $15,881,744 in the last three months. Insiders own 23.19% of the company’s stock.

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. 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.