Federated Hermes Inc. Increases Stock Holdings in UiPath, Inc. (NYSE:PATH)

Key Points

• Federated Hermes Inc. significantly increased its stake in UiPath, Inc. by 479.3%, acquiring an additional 4,732,712 shares and holding a total of 5,720,096 shares valued at approximately $58.9 million.
• CEO Daniel Dines sold 45,000 shares at an average price of $12.16, reducing his ownership by 0.95%, while insiders have collectively sold 875,117 shares in the last 90 days.
• UiPath's shares traded at $12.07, with a market cap of $6.46 billion and a 52-week high of $15.93, as the company reported earnings of $0.11 per share, beating analysts' expectations.

Federated Hermes Inc. raised its stake in UiPath, Inc. (NYSE:PATH - Free Report) by 479.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,720,096 shares of the company's stock after buying an additional 4,732,712 shares during the quarter. Federated Hermes Inc. owned about 1.04% of UiPath worth $58,917,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Corient Private Wealth LLC increased its stake in UiPath by 24.5% during the fourth quarter. Corient Private Wealth LLC now owns 17,133 shares of the company's stock worth $218,000 after purchasing an additional 3,374 shares during the period. Thrivent Financial for Lutherans increased its stake in UiPath by 72.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,970 shares of the company's stock worth $457,000 after purchasing an additional 15,089 shares during the period. American Century Companies Inc. increased its stake in UiPath by 103.7% during the fourth quarter. American Century Companies Inc. now owns 153,191 shares of the company's stock worth $1,947,000 after purchasing an additional 77,983 shares during the period. Sei Investments Co. increased its stake in shares of UiPath by 131.9% during the fourth quarter. Sei Investments Co. now owns 234,884 shares of the company's stock worth $2,985,000 after buying an additional 133,616 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of UiPath by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company's stock worth $593,101,000 after buying an additional 576,458 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

Insider Buying and Selling at UiPath

In related news, CEO Daniel Dines sold 9,988 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $12.00, for a total transaction of $119,856.00. Following the completion of the sale, the chief executive officer directly owned 4,598,388 shares of the company's stock, valued at $55,180,656. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 831,310 shares of company stock worth $10,428,922 over the last three months. 23.19% of the stock is owned by company insiders.

UiPath Price Performance

Shares of PATH stock traded down $0.64 during trading hours on Friday, hitting $11.11. The stock had a trading volume of 19,228,927 shares, compared to its average volume of 12,787,786. The firm has a market capitalization of $5.94 billion, a PE ratio of -92.58, a PEG ratio of 14.55 and a beta of 1.03. UiPath, Inc. has a twelve month low of $9.38 and a twelve month high of $15.93. The stock's 50 day moving average is $12.63 and its 200 day moving average is $12.37.

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

Analyst Upgrades and Downgrades

PATH has been the topic of a number of recent research reports. Wells Fargo & Company restated an "equal weight" rating on shares of UiPath in a research note on Friday, May 30th. BMO Capital Markets upped their target price on shares of UiPath from $11.50 to $15.50 and gave the stock a "market perform" rating in a research note on Friday, May 30th. Scotiabank upped their price target on UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a report on Friday, May 30th. Canaccord Genuity Group set a $16.00 price target on UiPath and gave the company a "buy" rating in a report on Monday, June 2nd. Finally, Evercore ISI upped their price target on UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Two 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $13.83.

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.