Straight Path Wealth Management Lowers Position in UiPath Inc. (NYSE:PATH)

Straight Path Wealth Management trimmed its holdings in shares of UiPath Inc. (NYSE:PATH) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,000 shares of the healthcare company’s stock after selling 1,000 shares during the quarter. Straight Path Wealth Management’s holdings in UiPath were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in UiPath by 819.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,209 shares of the healthcare company’s stock valued at $435,000 after purchasing an additional 17,120 shares during the last quarter. Empowered Funds LLC boosted its stake in UiPath by 10.5% in the first quarter. Empowered Funds LLC now owns 10,856 shares of the healthcare company’s stock worth $246,000 after buying an additional 1,033 shares in the last quarter. Sei Investments Co. raised its stake in shares of UiPath by 51.7% during the first quarter. Sei Investments Co. now owns 69,016 shares of the healthcare company’s stock worth $1,565,000 after acquiring an additional 23,529 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of UiPath by 96.6% during the first quarter. Russell Investments Group Ltd. now owns 75,851 shares of the healthcare company’s stock worth $1,720,000 after acquiring an additional 37,267 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of UiPath by 79.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 39,263 shares of the healthcare company’s stock valued at $890,000 after purchasing an additional 17,423 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Insider Activity

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the sale, the chief financial officer now owns 849,917 shares in the company, valued at $10,258,498.19. The trade was a 5.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.37% of the company’s stock.

Wall Street Analyst Weigh In

PATH has been the subject of several analyst reports. Barclays upped their price target on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Bank of America lifted their price target on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. cut their target price on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets increased their price target on shares of UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company dropped their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Sixteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, UiPath currently has a consensus rating of “Hold” and an average price target of $17.47.

UiPath Stock Performance

Shares of PATH stock traded down $0.27 during mid-day trading on Friday, reaching $12.37. 10,777,742 shares of the company’s stock traded hands, compared to its average volume of 9,519,799. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The firm has a 50 day moving average price of $12.61 and a two-hundred day moving average price of $13.42. The firm has a market capitalization of $6.80 billion, a PE ratio of -61.85 and a beta of 0.87.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $316.00 million for the quarter, compared to the consensus estimate of $303.69 million. During the same quarter last year, the company earned ($0.09) earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that UiPath Inc. will post -0.23 earnings per share for the current fiscal 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.