Zurcher Kantonalbank Zurich Cantonalbank Sells 12,538 Shares of UiPath Inc. (NYSE:PATH)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of UiPath Inc. (NYSE:PATH) by 13.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,182 shares of the company’s stock after selling 12,538 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in UiPath were worth $1,039,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in shares of UiPath during the third quarter worth about $26,000. JTC Employer Solutions Trustee Ltd acquired a new position in shares of UiPath in the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. bought a new stake in shares of UiPath in the 2nd quarter valued at $28,000. Redwood Wealth Management Group LLC acquired a new stake in shares of UiPath during the second quarter worth $43,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after buying an additional 2,274 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. DA Davidson increased their price target on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Barclays lifted their target price on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. BMO Capital Markets increased their price target on UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Evercore ISI lifted their price objective on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Finally, TD Cowen cut their target price on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.47.

UiPath Trading Down 2.5 %

NYSE PATH opened at $14.95 on Friday. The firm has a market capitalization of $8.22 billion, a P/E ratio of -74.72 and a beta of 0.94. The business has a fifty day simple moving average of $13.01 and a 200 day simple moving average of $12.85. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $316.00 million for 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 firm’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. As a group, sell-side analysts predict that UiPath Inc. will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the transaction, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. The trade was a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 22.37% of the company’s stock.

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.