UiPath Inc. (NYSE:PATH) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its stake in UiPath Inc. (NYSE:PATH) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 649,447 shares of the healthcare company’s stock after selling 130,489 shares during the quarter. UiPath comprises about 0.5% of Summit Trail Advisors LLC’s holdings, making the stock its 29th largest holding. Summit Trail Advisors LLC’s holdings in UiPath were worth $16,132,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PATH. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of UiPath by 104.4% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 102,000 shares of the healthcare company’s stock worth $1,745,000 after buying an additional 52,100 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in UiPath by 196.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 332,715 shares of the healthcare company’s stock valued at $5,693,000 after purchasing an additional 220,618 shares during the period. Xponance Inc. boosted its holdings in UiPath by 3.9% in the third quarter. Xponance Inc. now owns 44,846 shares of the healthcare company’s stock valued at $767,000 after purchasing an additional 1,694 shares during the period. Raymond James & Associates boosted its holdings in UiPath by 51.0% in the third quarter. Raymond James & Associates now owns 89,534 shares of the healthcare company’s stock valued at $1,532,000 after purchasing an additional 30,244 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in UiPath by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 2,385,317 shares of the healthcare company’s stock valued at $40,813,000 after purchasing an additional 15,334 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. KeyCorp started coverage on UiPath in a research report on Monday, April 8th. They issued an “overweight” rating and a $27.00 price target on the stock. Scotiabank upped their target price on UiPath from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Thursday, March 14th. TD Cowen boosted their price target on UiPath from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. BMO Capital Markets raised their price target on shares of UiPath from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. Finally, Wells Fargo & Company increased their price objective on shares of UiPath from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.41.

UiPath Stock Down 0.1 %

UiPath stock traded down $0.02 during mid-day trading on Tuesday, hitting $19.83. 1,123,984 shares of the company’s stock were exchanged, compared to its average volume of 8,333,569. The firm has a market capitalization of $11.28 billion, a P/E ratio of -116.70 and a beta of 1.01. UiPath Inc. has a fifty-two week low of $12.89 and a fifty-two week high of $27.87. The company’s 50 day simple moving average is $21.75 and its 200-day simple moving average is $21.72.

UiPath (NYSE:PATH) last released its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. The firm had revenue of $405.25 million during the quarter, compared to analysts’ expectations of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. Research analysts expect that UiPath Inc. will post -0.04 EPS for the current year.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $21.66, for a total transaction of $866,400.00. Following the completion of the transaction, the chief financial officer now directly owns 660,762 shares in the company, valued at approximately $14,312,104.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.03% of the company’s stock.

UiPath Company 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.