UiPath, Inc. (NYSE:PATH) Stock Position Decreased by IQ EQ FUND MANAGEMENT IRELAND Ltd

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its holdings in UiPath, Inc. by 29.7%, selling 32,860 shares and ending the quarter with 77,666 shares valued at $800,000.
• Several hedge funds have altered their positions in UiPath, with Bank of Nova Scotia and Oversea Chinese Banking Corp Ltd both increasing their stakes, the latter by 33.6%.
• Analysts have raised their price targets for UiPath shares, with Royal Bank of Canada setting a new target of $15.00, while the company reports a 6.4% increase in quarterly revenue year-over-year.

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 29.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,666 shares of the company's stock after selling 32,860 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in UiPath were worth $800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia purchased a new stake in shares of UiPath during the 1st quarter valued at $3,907,000. Clear Creek Financial Management LLC purchased a new position in shares of UiPath during the 1st quarter valued at about $266,000. Invesco Ltd. raised its stake in shares of UiPath by 10.5% during the 4th quarter. Invesco Ltd. now owns 382,800 shares of the company's stock valued at $4,865,000 after buying an additional 36,332 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of UiPath during the 1st quarter valued at about $241,000. Finally, Pallas Capital Advisors LLC grew its position in shares of UiPath by 32.2% during the 1st quarter. Pallas Capital Advisors LLC now owns 84,776 shares of the company's stock valued at $873,000 after acquiring an additional 20,667 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PATH shares. Scotiabank lifted their price objective on UiPath from $12.00 to $13.00 and gave the stock a "sector perform" rating in a report on Friday, May 30th. DA Davidson upgraded UiPath to a "hold" rating in a report on Tuesday, July 22nd. Barclays restated an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Mizuho reduced their price target on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, BMO Capital Markets boosted their target price on UiPath from $11.50 to $15.50 and gave the company a "market perform" rating in a research 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 issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.83.

Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 56,322 shares of UiPath stock in a transaction on Wednesday, July 2nd. The shares were 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 of the company's stock, valued at $10,939,085.52. The trade was a 6.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $12.43, for a total transaction of $559,350.00. Following the sale, the chief executive officer directly owned 5,058,376 shares in the company, valued at $62,875,613.68. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 831,310 shares of company stock worth $10,428,922 in the last 90 days. Company insiders own 23.19% of the company's stock.

UiPath Trading Down 2.6%

Shares of PATH traded down $0.28 during mid-day trading on Friday, reaching $10.65. The company had a trading volume of 9,073,690 shares, compared to its average volume of 14,424,310. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of -88.74, a price-to-earnings-growth ratio of 14.32 and a beta of 1.03. The firm has a fifty day simple moving average of $12.45 and a 200-day simple moving average of $12.30. UiPath, Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $15.93.

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, beating analysts' consensus estimates of $0.10 by $0.01. The company 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%. UiPath's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.13 EPS. As a group, equities analysts predict 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.