Farther Finance Advisors LLC Sells 1,392 Shares of UiPath Inc. (NYSE:PATH)

Farther Finance Advisors LLC decreased its stake in UiPath Inc. (NYSE:PATH) by 23.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,620 shares of the healthcare company’s stock after selling 1,392 shares during the period. Farther Finance Advisors LLC’s holdings in UiPath were worth $59,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Horrell Capital Management Inc. raised its position in UiPath by 20.8% in the third quarter. Horrell Capital Management Inc. now owns 290,000 shares of the healthcare company’s stock worth $3,712,000 after acquiring an additional 50,000 shares during the period. GW Henssler & Associates Ltd. bought a new stake in UiPath in the third quarter worth about $149,000. Pallas Capital Advisors LLC bought a new stake in UiPath in the third quarter worth about $729,000. Wealth Enhancement Advisory Services LLC raised its position in UiPath by 164.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 95,469 shares of the healthcare company’s stock worth $1,222,000 after acquiring an additional 59,435 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in UiPath by 314.6% in the third quarter. Assenagon Asset Management S.A. now owns 679,651 shares of the healthcare company’s stock worth $8,700,000 after acquiring an additional 515,728 shares during the period. Institutional investors own 62.50% of the company’s stock.

UiPath Stock Performance

Shares of PATH opened at $13.52 on Thursday. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of -67.60 and a beta of 0.87. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The firm has a 50 day moving average price of $12.60 and a 200-day moving average price of $13.48.

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

Wall Street Analysts Forecast Growth

PATH has been the topic of several research reports. DA Davidson lifted their price objective on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company reduced their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Barclays lifted 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. JPMorgan Chase & Co. reduced their target price on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Bank of America lifted their target price on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.47.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 849,917 shares in the company, valued at $10,258,498.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 22.37% of the stock is currently owned by company insiders.

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.