Assenagon Asset Management S.A. Sells 358,847 Shares of UiPath, Inc. (NYSE:PATH)

Assenagon Asset Management S.A. lowered its stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 55.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 293,930 shares of the company's stock after selling 358,847 shares during the period. Assenagon Asset Management S.A. owned approximately 0.05% of UiPath worth $3,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PATH. Smartleaf Asset Management LLC lifted its holdings in UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock worth $31,000 after acquiring an additional 1,152 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of UiPath by 198.6% during the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock valued at $31,000 after purchasing an additional 1,970 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after purchasing an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock valued at $38,000 after purchasing an additional 1,742 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after purchasing an additional 759 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PATH. BMO Capital Markets lifted their price target on shares of UiPath from $11.50 to $15.50 and gave the company a "market perform" rating in a research note on Friday, May 30th. Truist Financial upped their target price on shares of UiPath from $12.00 to $13.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Barclays reissued an "equal weight" rating on shares of UiPath in a research note on Friday, May 30th. Mizuho cut their price target on UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group decreased their price objective on UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $13.83.

UiPath Price Performance

NYSE PATH traded down $0.19 during trading on Friday, reaching $12.19. 4,518,588 shares of the company's stock were exchanged, compared to its average volume of 11,766,574. The stock has a market capitalization of $6.52 billion, a P/E ratio of -101.46, a PEG ratio of 16.21 and a beta of 1.06. UiPath, Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The business has a 50 day moving average price of $12.16 and a 200-day moving average price of $12.61.

UiPath (NYSE:PATH - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $356.62 million for the quarter, compared to analysts' expectations of $332.17 million. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The business's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. On average, analysts forecast that UiPath, Inc. will post -0.17 earnings per share for the current year.

Insider Activity at UiPath

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total transaction of $127,375.00. Following the sale, the chief accounting officer now directly owns 314,891 shares in the company, valued at $3,208,739.29. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ashim Gupta sold 98,795 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the transaction, the chief financial officer now directly owns 987,322 shares in the company, valued at approximately $11,857,737.22. This represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.19% of the stock is currently owned by corporate insiders.

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.