Citigroup Inc. Trims Stake in UiPath Inc. (NYSE:PATH)

Citigroup Inc. lessened its stake in UiPath Inc. (NYSE:PATH) by 50.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 427,075 shares of the company’s stock after selling 443,290 shares during the quarter. Citigroup Inc.’s holdings in UiPath were worth $5,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in UiPath by 16,741.9% during the first quarter. Lazard Asset Management LLC now owns 5,221 shares of the company’s stock worth $118,000 after buying an additional 5,190 shares in the last quarter. Comerica Bank boosted its stake in shares of UiPath by 226.5% during the 1st quarter. Comerica Bank now owns 25,154 shares of the company’s stock worth $570,000 after acquiring an additional 17,451 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of UiPath by 315.6% during the 1st quarter. Cetera Investment Advisers now owns 67,782 shares of the company’s stock worth $1,537,000 after acquiring an additional 51,472 shares in the last quarter. Cetera Advisors LLC grew its position in shares of UiPath by 93.5% during the 1st quarter. Cetera Advisors LLC now owns 19,706 shares of the company’s stock valued at $447,000 after acquiring an additional 9,522 shares during the period. Finally, CWM LLC increased its stake in shares of UiPath by 13.9% in the 2nd quarter. CWM LLC now owns 17,877 shares of the company’s stock valued at $227,000 after purchasing an additional 2,185 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the completion of the transaction, the chief financial officer now owns 849,917 shares in the company, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PATH. Bank of America raised their price objective on UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company dropped their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research report on Friday, September 6th. Finally, Morgan Stanley restated an “equal weight” rating and set a $15.00 price target on shares of UiPath in a research report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, UiPath currently has an average rating of “Hold” and a consensus price target of $17.47.

UiPath Trading Up 0.9 %

Shares of NYSE:PATH opened at $14.21 on Monday. The business has a 50-day moving average price of $12.90 and a 200 day moving average price of $12.97. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $27.87. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of -71.05 and a beta of 0.87.

UiPath (NYSE:PATH) last posted its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same quarter last year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

UiPath Company 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.