Assenagon Asset Management S.A. Reduces Holdings in UiPath Inc. (NYSE:PATH)

Assenagon Asset Management S.A. cut its position in shares of UiPath Inc. (NYSE:PATH - Free Report) by 55.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of UiPath by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company's stock worth $593,101,000 after acquiring an additional 576,458 shares in the last quarter. Senvest Management LLC boosted its stake in shares of UiPath by 29.2% in the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock valued at $178,890,000 after buying an additional 3,180,300 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of UiPath by 45.3% in the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock valued at $84,209,000 after buying an additional 2,072,089 shares in the last quarter. Norges Bank acquired a new position in UiPath during the fourth quarter worth $71,191,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in UiPath by 35.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock worth $69,385,000 after purchasing an additional 1,432,569 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at UiPath

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PATH shares. Royal Bank of Canada upped their target price on UiPath from $13.00 to $15.00 and gave the company a "sector perform" rating in a research note on Friday, May 30th. Truist Financial increased their price target on UiPath from $12.00 to $13.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. UBS Group lowered their price target on UiPath from $14.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, March 13th. Evercore ISI raised their target price on UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a research report on Friday, May 30th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $10.00 price target (down previously from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, UiPath presently has a consensus rating of "Hold" and an average target price of $13.83.

UiPath Trading Up 1.9%

Shares of NYSE:PATH opened at $12.48 on Tuesday. The stock's 50-day moving average price is $12.08 and its 200-day moving average price is $12.63. The stock has a market capitalization of $6.68 billion, a P/E ratio of -77.99 and a beta of 1.06. UiPath Inc. has a 12-month low of $9.38 and a 12-month high of $15.93.

UiPath (NYSE:PATH - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 4.14% and a negative net margin of 6.49%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. As a group, research analysts predict that UiPath Inc. will post -0.17 EPS for the current year.

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.

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