Azzad Asset Management Inc. ADV Reduces Position in UiPath Inc. (NYSE:PATH)

Azzad Asset Management Inc. ADV lessened its position in shares of UiPath Inc. (NYSE:PATH) by 28.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,478 shares of the healthcare company’s stock after selling 3,785 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in UiPath were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PATH. Norges Bank acquired a new stake in UiPath during the 4th quarter worth approximately $165,749,000. Vanguard Group Inc. lifted its position in UiPath by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock worth $645,916,000 after acquiring an additional 2,673,718 shares during the period. Artisan Partners Limited Partnership acquired a new stake in UiPath during the 4th quarter worth approximately $48,267,000. Vestmark Advisory Solutions Inc. acquired a new stake in UiPath during the 4th quarter worth approximately $15,543,000. Finally, First Trust Advisors LP lifted its holdings in shares of UiPath by 122.6% in the 4th quarter. First Trust Advisors LP now owns 1,132,984 shares of the healthcare company’s stock valued at $28,143,000 after buying an additional 624,003 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PATH has been the topic of a number of analyst reports. KeyCorp restated a “sector weight” rating on shares of UiPath in a research note on Thursday, May 30th. Macquarie downgraded UiPath from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $12.00 in a research note on Monday, June 3rd. DA Davidson decreased their price target on UiPath from $24.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Scotiabank decreased their price target on UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 29th. Finally, Morgan Stanley decreased their price target on UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, UiPath currently has a consensus rating of “Hold” and a consensus price target of $18.06.

UiPath Stock Performance

Shares of NYSE:PATH opened at $12.97 on Thursday. UiPath Inc. has a 52-week low of $11.07 and a 52-week high of $27.87. The stock’s fifty day simple moving average is $15.79 and its 200-day simple moving average is $20.52.

UiPath (NYSE:PATH) last released its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $335.11 million during the quarter, compared to analyst estimates of $332.84 million. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. On average, equities research analysts anticipate that UiPath Inc. will post -0.2 EPS for the current fiscal year.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the completion of the transaction, the chief financial officer now directly owns 946,848 shares in the company, valued at $18,738,121.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.37% of the company’s stock.

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.