Entropy Technologies LP Reduces Holdings in UiPath, Inc. (NYSE:PATH)

Key Points

• Entropy Technologies LP slashed its holdings in UiPath, Inc. by 61.1%, reducing its shares from 115,999 to 45,092, valued at approximately $464,000.
• Several institutional investors boosted their positions in UiPath, with Tidal Investments increasing by 3.7%, True Wealth Design by 18.4%, and United Capital Financial Advisors by 8.6% in the last quarter.
• UiPath's quarterly earnings topped expectations, reporting $0.11 earnings per share against a consensus estimate of $0.10, with a revenue of $356.62 million compared to the expected $332.17 million.

Entropy Technologies LP decreased its holdings in UiPath, Inc. (NYSE:PATH - Free Report) by 61.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,092 shares of the company's stock after selling 70,907 shares during the quarter. Entropy Technologies LP's holdings in UiPath were worth $464,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tidal Investments LLC boosted its holdings in shares of UiPath by 3.7% in the fourth quarter. Tidal Investments LLC now owns 22,487 shares of the company's stock worth $286,000 after buying an additional 797 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of UiPath by 18.4% in the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock worth $66,000 after buying an additional 801 shares during the last quarter. United Capital Financial Advisors LLC boosted its holdings in shares of UiPath by 8.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company's stock worth $156,000 after buying an additional 971 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of UiPath by 6.8% in the fourth quarter. NewEdge Advisors LLC now owns 15,809 shares of the company's stock worth $201,000 after buying an additional 1,003 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of UiPath by 2.0% in the first quarter. Xponance Inc. now owns 54,246 shares of the company's stock worth $559,000 after buying an additional 1,054 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Insiders Place Their Bets

In related news, CEO Daniel Dines sold 9,988 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $12.00, for a total value of $119,856.00. Following the sale, the chief executive officer owned 4,598,388 shares in the company, valued at approximately $55,180,656. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 831,310 shares of company stock valued at $10,428,922 in the last quarter. Insiders own 23.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PATH. Truist Financial lifted their price target on shares of UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a report on Friday, May 30th. Morgan Stanley lifted their price target on shares of UiPath from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. Barclays reaffirmed an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. DA Davidson raised shares of UiPath to a "hold" rating in a report on Tuesday, July 22nd. Finally, Evercore ISI lifted their price target 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. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $13.83.

UiPath Price Performance

UiPath stock opened at $10.99 on Thursday. The stock has a market cap of $5.88 billion, a P/E ratio of -91.58, a PEG ratio of 13.76 and a beta of 1.03. UiPath, Inc. has a 1 year low of $9.38 and a 1 year high of $15.93. The firm's 50 day moving average price is $12.31 and its 200-day moving average price is $12.24.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.