Federated Hermes Inc. Acquires 4,732,712 Shares of 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. increased its position in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 479.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,720,096 shares of the company's stock after buying an additional 4,732,712 shares during the period. Federated Hermes Inc. owned about 1.04% of UiPath worth $58,917,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. acquired a new position in UiPath during the first quarter worth approximately $105,000. MRP Capital Investments LLC acquired a new position in shares of UiPath during the first quarter worth about $82,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of UiPath by 6.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 135,922 shares of the company's stock worth $1,400,000 after buying an additional 8,088 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in UiPath in the first quarter valued at $2,247,000. Finally, Cetera Investment Advisers increased its holdings in UiPath by 2.3% in the first quarter. Cetera Investment Advisers now owns 74,696 shares of the company's stock valued at $769,000 after buying an additional 1,652 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company reissued an "equal weight" rating on shares of UiPath in a research report on Friday, May 30th. Morgan Stanley lifted their price objective on UiPath from $12.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. DA Davidson upgraded shares of UiPath to a "hold" rating in a report on Tuesday, July 22nd. Evercore ISI boosted their price objective on UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a research note on Friday, May 30th. Finally, Wall Street Zen raised shares of UiPath from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, UiPath has a consensus rating of "Hold" and a consensus target price of $13.83.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 56,322 shares of UiPath stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $12.72, for a total value of $716,415.84. Following the completion of the transaction, the chief financial officer directly owned 859,991 shares of the company's stock, valued at $10,939,085.52. The trade was a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $12.43, for a total value of $559,350.00. Following the completion of the transaction, the chief executive officer owned 5,058,376 shares in the company, valued at $62,875,613.68. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 831,310 shares of company stock valued at $10,428,922 in the last ninety days. 23.19% of the stock is owned by company insiders.

UiPath Stock Down 5.4%

Shares of PATH traded down $0.64 during trading hours on Friday, reaching $11.11. The company's stock had a trading volume of 19,228,927 shares, compared to its average volume of 12,787,786. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of -92.58, a P/E/G ratio of 15.39 and a beta of 1.03. The company has a 50 day moving average of $12.63 and a two-hundred day moving average of $12.38. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $15.93.

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

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.