HighTower Advisors LLC Reduces Stock Position in UiPath, Inc. $PATH

Key Points

• HighTower Advisors LLC has decreased its position in UiPath, Inc. by 41.1%, now holding 44,755 shares valued at $461,000.
• Several institutional investors have increased or established new stakes in UiPath, with a total of 62.50% of the stock owned by such entities.
• UiPath recently posted an earnings report showing a revenue of $356.62 million and a quarterly EPS of $0.11, surpassing analyst expectations.

HighTower Advisors LLC decreased its holdings in UiPath, Inc. (NYSE:PATH - Free Report) by 41.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,755 shares of the company's stock after selling 31,244 shares during the quarter. HighTower Advisors LLC's holdings in UiPath were worth $461,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PATH. Versant Capital Management Inc grew its stake in UiPath by 198.6% during the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock valued at $31,000 after purchasing an additional 1,970 shares during the last quarter. CX Institutional acquired a new stake in UiPath during the 1st quarter valued at approximately $36,000. National Bank of Canada FI purchased a new stake in shares of UiPath in the 1st quarter valued at $72,000. MRP Capital Investments LLC acquired a new stake in shares of UiPath in the first quarter worth $82,000. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of UiPath in the first quarter worth $105,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Trading Down 1.8%

UiPath stock traded down $0.21 during midday trading on Tuesday, reaching $10.92. 11,388,538 shares of the stock traded hands, compared to its average volume of 11,569,803. UiPath, Inc. has a 12-month low of $9.38 and a 12-month high of $15.93. The company has a 50-day simple moving average of $11.89 and a two-hundred day simple moving average of $11.90. The firm has a market cap of $5.84 billion, a PE ratio of -90.95, a price-to-earnings-growth ratio of 14.57 and a beta of 1.02.

Insiders Place Their Bets

In related news, CEO Daniel Dines sold 9,988 shares of the business's stock in a transaction that occurred 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 owned 4,598,388 shares in the company, valued at $55,180,656. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 831,310 shares of company stock valued at $10,428,922 in the last 90 days. 23.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley upped 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. Canaccord Genuity Group set a $16.00 price objective on UiPath and gave the stock a "buy" rating in a research note on Monday, June 2nd. Wells Fargo & Company reissued an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. DA Davidson raised UiPath to a "hold" rating in a research note on Tuesday, July 22nd. Finally, Scotiabank raised their price objective on UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, UiPath has an average 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.