UiPath Inc. (NYSE:PATH) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its stake in shares of UiPath Inc. (NYSE:PATH) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,023 shares of the healthcare company’s stock after selling 1,692 shares during the period. Public Employees Retirement Association of Colorado’s holdings in UiPath were worth $558,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after purchasing an additional 2,133,078 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of UiPath by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 295,370 shares of the healthcare company’s stock worth $6,696,000 after acquiring an additional 1,571 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of UiPath by 4.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 231,694 shares of the healthcare company’s stock valued at $5,240,000 after acquiring an additional 9,393 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of UiPath by 3,389.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 89,189 shares of the healthcare company’s stock valued at $1,131,000 after acquiring an additional 86,633 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in UiPath by 245.1% during the 1st quarter. Acadian Asset Management LLC now owns 45,700 shares of the healthcare company’s stock worth $1,032,000 after purchasing an additional 32,456 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Insider Buying and Selling

In other UiPath 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 transaction of $575,388.97. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on PATH shares. Canaccord Genuity Group reduced their price objective on UiPath from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Evercore ISI upped their price target on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Friday, September 6th. Bank of America upped 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. Finally, Macquarie downgraded shares of UiPath from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $12.00 in a research note on Monday, June 3rd. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.71.

UiPath Stock Performance

UiPath stock opened at $12.58 on Friday. The company has a market cap of $7.21 billion, a P/E ratio of -78.63 and a beta of 0.87. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $27.87. The firm’s 50-day moving average is $12.14 and its 200-day moving average is $15.64.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 EPS 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 the consensus estimate 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 business earned ($0.09) EPS. As a group, sell-side analysts predict 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.