Burney Co. Invests $2.29 Million in UiPath, Inc. $PATH

Key Points

• Burney Co. opened a new position in UiPath (NYSE:PATH) in Q4, acquiring 139,384 shares valued at about $2.29 million.
• CEO Daniel Dines sold 45,000 shares on Jan. 26 for roughly $675,450, and insiders have sold 135,000 shares (~$2.06 million) over the past 90 days; insiders now own 23.19% of the stock.
• Several brokerages cut price targets on March 12, leaving a consensus rating of "Hold" with an average target of $14.07, even as UiPath recently beat quarterly estimates (EPS $0.30 vs. $0.25; revenue $481.1M, +13.4% y/y).

Burney Co. acquired a new position in UiPath, Inc. (NYSE:PATH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 139,384 shares of the company's stock, valued at approximately $2,285,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PATH. Noble Wealth Management PBC purchased a new stake in shares of UiPath in the fourth quarter worth approximately $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of UiPath in the fourth quarter worth approximately $26,000. CoreCap Advisors LLC raised its stake in shares of UiPath by 92.3% in the fourth quarter. CoreCap Advisors LLC now owns 2,579 shares of the company's stock worth $42,000 after purchasing an additional 1,238 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of UiPath by 93.3% in the fourth quarter. GAMMA Investing LLC now owns 5,251 shares of the company's stock worth $86,000 after purchasing an additional 2,534 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of UiPath by 17.7% in the third quarter. Covestor Ltd now owns 6,522 shares of the company's stock worth $87,000 after purchasing an additional 981 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at UiPath

In other news, CEO Daniel Dines sold 45,000 shares of the company's stock in a transaction on Monday, January 26th. The stock was sold at an average price of $15.01, for a total transaction of $675,450.00. Following the transaction, the chief executive officer owned 27,893,585 shares of the company's stock, valued at $418,682,710.85. This represents a 0.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 135,000 shares of company stock worth $2,056,950. 23.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PATH. Wells Fargo & Company dropped their price target on UiPath from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, March 12th. Bank of America reduced their price objective on UiPath from $14.00 to $12.00 and set an "underperform" rating for the company in a research note on Thursday, March 12th. UBS Group decreased their target price on UiPath from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 12th. Canaccord Genuity Group lowered their target price on UiPath from $19.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, March 12th. Finally, Truist Financial cut their price target on shares of UiPath from $17.00 to $12.00 and set a "hold" rating on the stock in a report on Thursday, March 12th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $14.07.

UiPath Price Performance

Shares of PATH opened at $9.38 on Monday. UiPath, Inc. has a 1 year low of $9.28 and a 1 year high of $19.84. The stock's fifty day moving average price is $11.36 and its two-hundred day moving average price is $13.95. The firm has a market cap of $4.91 billion, a PE ratio of 18.03, a PEG ratio of 1.54 and a beta of 1.03.

UiPath (NYSE:PATH - Get Free Report) last issued its quarterly earnings results on Wednesday, March 11th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. UiPath had a return on equity of 5.69% and a net margin of 17.53%.The firm had revenue of $481.11 million for the quarter, compared to analysts' expectations of $464.81 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. Sell-side analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current fiscal 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. 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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