UiPath, Inc. $PATH Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its stake in shares of UiPath, Inc. (NYSE:PATH) by 68.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,255 shares of the company’s stock after selling 158,216 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in UiPath were worth $1,056,000 at the end of the most recent reporting period.

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

UiPath Price Performance

PATH opened at $12.49 on Tuesday. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $19.84. The stock has a market cap of $6.68 billion, a P/E ratio of 29.74, a P/E/G ratio of 3.69 and a beta of 1.07. The stock’s 50 day simple moving average is $15.81 and its 200 day simple moving average is $14.01.

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

Insider Activity

In other UiPath news, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $19.21, for a total transaction of $864,450.00. Following the completion of the transaction, the chief executive officer owned 29,153,585 shares in the company, valued at approximately $560,040,367.85. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ashim Gupta sold 67,468 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer directly owned 557,028 shares in the company, valued at $8,968,150.80. This trade represents a 10.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 995,048 shares of company stock valued at $16,559,894 over the last 90 days. 23.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Zacks Research upgraded shares of UiPath from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. BMO Capital Markets lifted their target price on UiPath from $13.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday, December 4th. Truist Financial set a $17.00 price objective on shares of UiPath in a research report on Thursday, December 4th. Barclays boosted their price objective on shares of UiPath from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, January 12th. Finally, Canaccord Genuity Group raised their target price on shares of UiPath from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.