Arrowstreet Capital Limited Partnership Trims Stake in UiPath, Inc. $PATH

Key Points

• Arrowstreet Capital cut its UiPath stake by 95% in the first quarter, selling 3.17 million shares and retaining 166,052 shares worth approximately $1.84 million.
• Institutional ownership remains substantial at 62.5%, with several investors—including DNB Asset Management, First Trust Advisors, and Vanguard—recently increasing their positions.
• UiPath reported revenue of $418.4 million, up 17.3% year over year, and earnings of $0.15 per share. Despite the growth, analysts hold a consensus “Hold” rating with an average price target of $13.80, below the cited share price of $13.84.

Arrowstreet Capital Limited Partnership reduced its holdings in UiPath, Inc. (NYSE:PATH - Free Report) by 95.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,052 shares of the company's stock after selling 3,174,788 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in UiPath were worth $1,843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DNB Asset Management AS raised its holdings in UiPath by 266.4% in the fourth quarter. DNB Asset Management AS now owns 565,799 shares of the company's stock worth $9,273,000 after purchasing an additional 411,395 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of UiPath by 48.7% during the 1st quarter. First Trust Advisors LP now owns 1,624,148 shares of the company's stock valued at $18,028,000 after buying an additional 532,157 shares in the last quarter. State of Michigan Retirement System purchased a new stake in shares of UiPath in the 1st quarter worth about $1,143,000. Burney Co. purchased a new stake in shares of UiPath in the 4th quarter worth about $2,285,000. Finally, Vanguard Group Inc. increased its stake in shares of UiPath by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company's stock worth $804,994,000 after acquiring an additional 1,219,057 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

UiPath Stock Down 1.9%

NYSE PATH opened at $13.84 on Thursday. The company has a 50-day moving average price of $11.47 and a 200-day moving average price of $11.43. UiPath, Inc. has a 52 week low of $9.20 and a 52 week high of $19.84. The firm has a market capitalization of $7.17 billion, a P/E ratio of 23.06, a PEG ratio of 1.69 and a beta of 0.96.

UiPath (NYSE:PATH - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $0.15 EPS for the quarter, meeting analysts' consensus estimates of $0.15. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The business had revenue of $418.38 million during the quarter, compared to analysts' expectations of $397.54 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm's revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts anticipate that UiPath, Inc. will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

PATH has been the topic of several research reports. UBS Group dropped their price objective on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Monday, June 29th. Wall Street Zen lowered shares of UiPath from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. BMO Capital Markets dropped their price target on UiPath from $14.00 to $13.00 and set a "market perform" rating on the stock in a research report on Monday, June 1st. Needham & Company LLC restated a "buy" rating and issued a $15.00 price target on shares of UiPath in a research note on Friday, May 29th. Finally, DA Davidson reduced their price objective on UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.80.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.

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