Cerity Partners LLC Sells 24,800 Shares of UiPath, Inc. (NYSE:PATH)

Cerity Partners LLC reduced its position in UiPath, Inc. (NYSE:PATH - Free Report) by 9.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 242,905 shares of the company's stock after selling 24,800 shares during the period. Cerity Partners LLC's holdings in UiPath were worth $2,502,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PATH. Proficio Capital Partners LLC acquired a new stake in shares of UiPath in the 4th quarter valued at $307,000. Raymond James Financial Inc. acquired a new position in UiPath during the fourth quarter valued at approximately $5,506,000. Corient Private Wealth LLC grew its holdings in UiPath by 24.5% during the fourth quarter. Corient Private Wealth LLC now owns 17,133 shares of the company's stock valued at $218,000 after purchasing an additional 3,374 shares during the period. Thrivent Financial for Lutherans grew its holdings in UiPath by 72.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,970 shares of the company's stock valued at $457,000 after purchasing an additional 15,089 shares during the period. Finally, Xponance Inc. grew its holdings in UiPath by 5.2% during the fourth quarter. Xponance Inc. now owns 53,192 shares of the company's stock valued at $676,000 after purchasing an additional 2,630 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Ashim Gupta sold 56,322 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $12.72, for a total transaction of $716,415.84. Following the sale, the chief financial officer owned 859,991 shares in the company, valued at approximately $10,939,085.52. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Dines sold 45,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $12.56, for a total value of $565,200.00. Following the sale, the chief executive officer owned 4,833,376 shares in the company, valued at $60,707,202.56. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 785,117 shares of company stock worth $9,854,444 in the last quarter. 23.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Evercore ISI boosted their price objective on shares of UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Canaccord Genuity Group set a $16.00 target price on UiPath and gave the company a "buy" rating in a research note on Monday, June 2nd. Morgan Stanley boosted their target price on UiPath from $12.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Scotiabank boosted their target price on UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a research note on Friday, May 30th. Finally, DA Davidson raised UiPath to a "hold" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $13.83.

UiPath Trading Up 0.0%

Shares of UiPath stock traded up $0.01 during trading on Wednesday, reaching $12.60. The stock had a trading volume of 14,481,181 shares, compared to its average volume of 10,523,385. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of -104.95, a P/E/G ratio of 13.23 and a beta of 1.04. The stock has a fifty day moving average price of $12.71 and a two-hundred day moving average price of $12.44. UiPath, Inc. has a 52 week low of $9.38 and a 52 week high of $15.93.

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

About UiPath

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.