Rockefeller Capital Management L.P. Sells 57,260 Shares of UiPath Inc. (NYSE:PATH)

Rockefeller Capital Management L.P. reduced its stake in UiPath Inc. (NYSE:PATH) by 16.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 299,689 shares of the company’s stock after selling 57,260 shares during the period. Rockefeller Capital Management L.P.’s holdings in UiPath were worth $3,836,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PATH. Comerica Bank increased its stake in UiPath by 226.5% in the first quarter. Comerica Bank now owns 25,154 shares of the company’s stock valued at $570,000 after purchasing an additional 17,451 shares in the last quarter. Cetera Investment Advisers raised its stake in 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 buying an additional 51,472 shares during the period. Cetera Advisors LLC raised its stake in UiPath by 93.5% during the 1st quarter. Cetera Advisors LLC now owns 19,706 shares of the company’s stock worth $447,000 after buying an additional 9,522 shares during the period. CWM LLC grew its stake in UiPath by 13.9% in the second quarter. CWM LLC now owns 17,877 shares of the company’s stock valued at $227,000 after acquiring an additional 2,185 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in shares of UiPath in the second quarter worth about $537,000. 62.50% of the stock is owned by institutional investors and hedge funds.

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 stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the transaction, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. The trade was a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PATH. Bank of America lifted 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. TD Cowen reduced their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, September 6th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a report on Friday, September 6th. Barclays upped their target price on shares of UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Finally, BMO Capital Markets lifted their price target on UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.47.

UiPath Stock Down 2.5 %

Shares of UiPath stock opened at $14.95 on Friday. The stock has a market cap of $8.22 billion, a P/E ratio of -74.72 and a beta of 0.94. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $27.87. The business’s 50 day moving average is $13.01 and its 200-day moving average is $12.85.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $303.69 million. During the same period in the prior 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. On average, sell-side analysts expect that UiPath Inc. will post -0.23 EPS for the current year.

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.