UiPath Inc. (NYSE:PATH) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of UiPath Inc. (NYSE:PATH) by 75.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,004,872 shares of the company’s stock after selling 3,017,269 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of UiPath worth $12,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. acquired a new stake in UiPath in the 2nd quarter valued at about $69,180,000. Senvest Management LLC grew its stake in UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in UiPath in the 2nd quarter valued at about $13,280,000. AQR Capital Management LLC grew its stake in UiPath by 120.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the company’s stock valued at $20,385,000 after acquiring an additional 892,845 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock valued at $35,296,000 after acquiring an additional 754,519 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lowered their price objective 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. DA Davidson boosted their target price on shares of UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Bank of America boosted their target price on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research note on Friday. Finally, BMO Capital Markets boosted their target price on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.71.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares in the company, valued at $10,258,498.19. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.37% of the stock is currently owned by insiders.

UiPath Price Performance

Shares of NYSE:PATH opened at $14.81 on Friday. The firm has a market capitalization of $8.14 billion, a PE ratio of -92.56 and a beta of 0.94. The business has a 50-day moving average of $13.10 and a two-hundred day moving average of $12.83. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) earnings per share. As a group, research analysts anticipate that UiPath Inc. will post -0.23 earnings per share for the current year.

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.