IQ EQ FUND MANAGEMENT IRELAND Ltd Has $800,000 Stock Position in UiPath, Inc. (NYSE:PATH)

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings 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 in the last quarter. CX Institutional bought a new stake in shares of UiPath in the 1st quarter valued at approximately $36,000. True Wealth Design LLC lifted its holdings in 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 acquiring an additional 801 shares during the last quarter. MRP Capital Investments LLC bought a new stake in UiPath in the 1st quarter valued at about $82,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of UiPath during the fourth quarter valued at $102,000. Institutional investors and hedge funds own 62.50% of the company's stock.

UiPath Stock Performance

Shares of UiPath stock traded down $0.02 on Wednesday, reaching $11.21. The stock had a trading volume of 7,761,443 shares, compared to its average volume of 14,007,114. UiPath, Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The business's 50-day moving average price is $12.58 and its two-hundred day moving average price is $12.35. The stock has a market cap of $6.00 billion, a P/E ratio of -93.37, a price-to-earnings-growth ratio of 14.70 and a beta of 1.03.

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

Wall Street Analyst Weigh In

PATH has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of UiPath from a "strong-buy" rating to a "buy" rating in a report on Sunday. Evercore ISI raised their target price on UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a research report on Friday, May 30th. Royal Bank Of Canada raised their price objective on UiPath from $13.00 to $15.00 and gave the stock a "sector perform" rating in a research report on Friday, May 30th. Canaccord Genuity Group set a $16.00 price target on shares of UiPath and gave the stock a "buy" rating in a research report on Monday, June 2nd. Finally, Mizuho dropped their price objective on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $13.83.

Insider Buying and Selling at UiPath

In other news, CEO Daniel Dines sold 45,000 shares of the business's stock in a transaction that occurred 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 approximately $62,875,613.68. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 56,322 shares of UiPath stock in a transaction on Wednesday, July 2nd. The stock was 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 in the company, valued at $10,939,085.52. This represents a 6.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 831,310 shares of company stock valued at $10,428,922. Corporate insiders own 23.19% of the company's stock.

UiPath Company 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.