Mackenzie Financial Corp Decreases Stake in UiPath, Inc. (NYSE:PATH)

Key Points

• Mackenzie Financial Corp reduced its stake in UiPath, Inc. by 80.9% during the first quarter, now holding approximately $3.54 million worth of shares.
• Several large investors, including Senvest Management and AQR Capital Management, increased their positions in UiPath during the fourth quarter, indicating continued institutional interest.
• UiPath reported earnings of $0.11 per share in its latest quarterly results, exceeding analyst expectations, with a revenue of $356.62 million, up 6.4% year-over-year.

Mackenzie Financial Corp lowered its position in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 80.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 343,298 shares of the company's stock after selling 1,453,899 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of UiPath worth $3,536,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased 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 worth $31,000 after buying an additional 1,970 shares during the period. CX Institutional purchased a new stake in shares of UiPath during the 1st quarter worth $36,000. True Wealth Design LLC grew its stake in UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock worth $66,000 after buying an additional 801 shares during the last quarter. MRP Capital Investments LLC purchased a new position in UiPath during the first quarter worth about $82,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of UiPath in the 4th quarter worth about $102,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Stock Performance

Shares of NYSE PATH traded down $0.04 during midday trading on Wednesday, hitting $11.19. 5,086,212 shares of the company's stock traded hands, compared to its average volume of 11,767,294. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -93.20, a price-to-earnings-growth ratio of 14.86 and a beta of 1.03. The firm has a fifty day moving average of $12.58 and a 200 day moving average of $12.35. 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 earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) 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 company had revenue of $356.62 million for the quarter, compared to the consensus estimate of $332.17 million. During the same quarter last year, the company earned $0.13 EPS. The firm's quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current year.

Insider Activity

In other UiPath news, CEO Daniel Dines sold 9,988 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $12.00, for a total value of $119,856.00. Following the transaction, the chief executive officer directly owned 4,598,388 shares in the company, valued at $55,180,656. This represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 831,310 shares of company stock worth $10,428,922. 23.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays restated an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Evercore ISI increased their price target on UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a research report on Friday, May 30th. DA Davidson raised shares of UiPath to a "hold" rating in a research report on Tuesday, July 22nd. Morgan Stanley raised their price target on shares of UiPath from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Finally, Wall Street Zen cut UiPath from a "strong-buy" rating to a "buy" rating in a report on Sunday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.