UiPath Inc. (NYSE:PATH) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC lessened its position in UiPath Inc. (NYSE:PATH) by 18.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,253 shares of the healthcare company’s stock after selling 6,093 shares during the period. SteelPeak Wealth LLC’s holdings in UiPath were worth $349,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PATH. Vanguard Group Inc. increased its stake in UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after buying an additional 2,133,078 shares during the period. Pacer Advisors Inc. acquired a new position in UiPath during the 2nd quarter valued at about $69,180,000. Dimensional Fund Advisors LP increased its stake in UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock valued at $35,296,000 after buying an additional 754,519 shares during the period. Bank of New York Mellon Corp increased its stake in UiPath by 20.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the healthcare company’s stock valued at $32,371,000 after buying an additional 439,344 shares during the period. Finally, AQR Capital Management LLC increased its stake in UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company’s stock valued at $20,385,000 after buying an additional 892,845 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PATH. Barclays raised their target price on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Bank of America raised their price objective on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company reduced their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. TD Cowen reduced their price objective on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Sixteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.47.

UiPath Price Performance

NYSE:PATH opened at $12.36 on Friday. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The company’s 50 day moving average is $12.53 and its 200-day moving average is $13.91.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The company had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. During the same quarter last year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that UiPath Inc. will post -0.23 EPS for the current year.

Insider Activity

In other news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 22.37% of the company’s stock.

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.