Creative Planning Reduces Holdings in UiPath Inc. (NYSE:PATH)

Creative Planning lowered its stake in shares of UiPath Inc. (NYSE:PATH) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,761 shares of the healthcare company’s stock after selling 2,294 shares during the quarter. Creative Planning’s holdings in UiPath were worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after purchasing an additional 2,133,078 shares during the last quarter. Pacer Advisors Inc. purchased a new position in UiPath in the 2nd quarter worth approximately $69,180,000. Dimensional Fund Advisors LP lifted its holdings in shares of UiPath by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock valued at $35,296,000 after purchasing an additional 754,519 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of UiPath by 20.8% in the second quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the healthcare company’s stock worth $32,371,000 after acquiring an additional 439,344 shares during the period. Finally, AQR Capital Management LLC raised its stake in UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company’s stock valued at $20,385,000 after buying an additional 892,845 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the completion of the sale, the chief financial officer now owns 849,917 shares in the company, valued at $10,258,498.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 22.37% of the stock is owned by company insiders.

UiPath Trading Up 1.1 %

Shares of NYSE PATH opened at $12.70 on Monday. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of -79.38 and a beta of 0.88. The company’s 50-day moving average price is $12.22 and its 200 day moving average price is $14.69.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm 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%. UiPath’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share. As a group, research analysts expect that UiPath Inc. will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 price target on shares of UiPath in a research report on Friday, September 6th. Evercore ISI upped their price objective on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. TD Cowen lowered their target price on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.71.

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.