California Public Employees Retirement System Sells 198,560 Shares of UiPath, Inc. $PATH

Key Points

• CalPERS cut its UiPath stake by 27.4% in the first quarter, selling 198,560 shares and retaining 527,244 shares valued at approximately $5.85 million. Institutional investors collectively own 62.5% of the company.
• UiPath reported quarterly revenue of $418.38 million, up 17.3% year over year and above analyst expectations, while earnings of $0.15 per share matched consensus estimates.
• Analyst sentiment remains cautious: UiPath has an average “Hold” rating and a $13.80 price target, while shares recently traded around $10.85 and several firms lowered their targets.

California Public Employees Retirement System reduced its position in UiPath, Inc. (NYSE:PATH - Free Report) by 27.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 527,244 shares of the company's stock after selling 198,560 shares during the period. California Public Employees Retirement System owned approximately 0.10% of UiPath worth $5,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PATH. Vanguard Group Inc. increased its position in shares of UiPath by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company's stock valued at $804,994,000 after purchasing an additional 1,219,057 shares during the last quarter. State Street Corp lifted its stake in shares of UiPath by 66.4% in the 4th quarter. State Street Corp now owns 13,004,786 shares of the company's stock worth $213,148,000 after purchasing an additional 5,189,438 shares during the period. AQR Capital Management LLC boosted its holdings in shares of UiPath by 76.0% in the second quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company's stock worth $145,732,000 after buying an additional 4,926,341 shares during the last quarter. Morgan Stanley boosted its holdings in shares of UiPath by 54.0% in the fourth quarter. Morgan Stanley now owns 9,310,304 shares of the company's stock worth $152,596,000 after buying an additional 3,262,930 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in UiPath by 25.6% during the fourth quarter. Geode Capital Management LLC now owns 7,499,989 shares of the company's stock valued at $122,951,000 after buying an additional 1,528,454 shares during the period. Institutional investors own 62.50% of the company's stock.

UiPath Trading Up 0.1%

UiPath stock opened at $10.85 on Monday. UiPath, Inc. has a 12-month low of $9.20 and a 12-month high of $19.84. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.30 and a beta of 0.98. The firm has a 50 day moving average of $11.15 and a 200 day moving average of $11.64.

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

Analysts Set New Price Targets

PATH has been the subject of a number of research reports. BMO Capital Markets reduced their target price on shares of UiPath from $14.00 to $13.00 and set a "market perform" rating for the company in a report on Monday, June 1st. Wall Street Zen downgraded shares of UiPath from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. DA Davidson cut their price objective on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, May 29th. Needham & Company LLC restated a "buy" rating and issued a $15.00 price objective on shares of UiPath in a research note on Friday, May 29th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of UiPath in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, UiPath presently has an average rating of "Hold" and an average target price 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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