State of New Jersey Common Pension Fund D Reduces Position in UiPath Inc. (NYSE:PATH)

State of New Jersey Common Pension Fund D trimmed its holdings in UiPath Inc. (NYSE:PATH) by 27.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 167,273 shares of the healthcare company’s stock after selling 64,340 shares during the period. State of New Jersey Common Pension Fund D’s holdings in UiPath were worth $2,121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PATH. Headlands Technologies LLC bought a new stake in shares of UiPath during the second quarter worth $552,000. Daiwa Securities Group Inc. increased its stake in UiPath by 17.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,800 shares of the healthcare company’s stock worth $378,000 after buying an additional 4,400 shares during the period. Royal London Asset Management Ltd. lifted its holdings in UiPath by 7.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 146,085 shares of the healthcare company’s stock valued at $1,852,000 after buying an additional 10,442 shares in the last quarter. Koss Olinger Consulting LLC purchased a new stake in UiPath in the 2nd quarter valued at about $127,000. Finally, Acadian Asset Management LLC boosted its position in UiPath by 302.2% in the 2nd quarter. Acadian Asset Management LLC now owns 183,801 shares of the healthcare company’s stock valued at $2,328,000 after buying an additional 138,101 shares during the period. 62.50% of the stock is owned by institutional investors.

UiPath Trading Up 1.2 %

Shares of PATH opened at $12.45 on Friday. The firm has a market cap of $7.13 billion, a PE ratio of -77.50 and a beta of 0.87. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The stock has a fifty day moving average price of $12.12 and a 200-day moving average price of $16.03.

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 return on equity of 3.98% and a negative net margin of 8.13%. The company had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $303.69 million. During the same period last year, the business posted ($0.09) earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts forecast that UiPath Inc. will post -0.23 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PATH shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research note on Friday, September 6th. Evercore ISI raised their price objective on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Scotiabank lowered their target price on UiPath from $30.00 to $25.00 and set a “sector perform” rating for the company in a report on Wednesday, May 29th. Barclays raised their price target on UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. decreased their price objective on UiPath from $28.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, UiPath presently has a consensus rating of “Hold” and a consensus price target of $17.71.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 approximately $10,258,498.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.37% of the stock is owned by company insiders.

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.