UiPath, Inc. (NYSE:PATH) Shares Sold by Mackenzie Financial Corp

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 reduced its holdings in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 80.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,298 shares of the company's stock after selling 1,453,899 shares during the quarter. Mackenzie Financial Corp owned approximately 0.06% of UiPath worth $3,536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PATH. American Century Companies Inc. increased its holdings in UiPath by 103.7% during the 4th quarter. American Century Companies Inc. now owns 153,191 shares of the company's stock valued at $1,947,000 after acquiring an additional 77,983 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of UiPath by 14.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 67,861 shares of the company's stock worth $863,000 after buying an additional 8,497 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of UiPath during the fourth quarter worth about $5,776,000. Franklin Resources Inc. grew its holdings in shares of UiPath by 1,245.4% during the fourth quarter. Franklin Resources Inc. now owns 136,690 shares of the company's stock worth $1,737,000 after buying an additional 126,530 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in shares of UiPath by 45.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 720,423 shares of the company's stock worth $9,157,000 after buying an additional 223,669 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at UiPath

In other UiPath news, CEO Daniel Dines sold 9,988 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were 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 directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 831,310 shares of company stock worth $10,428,922 in the last ninety days. 23.19% of the stock is owned by insiders.

UiPath Trading Down 5.4%

PATH traded down $0.64 during trading on Friday, hitting $11.11. 19,228,927 shares of the company's stock were exchanged, compared to its average volume of 13,749,928. UiPath, Inc. has a 1 year low of $9.38 and a 1 year high of $15.93. The stock has a 50 day moving average price of $12.63 and a 200 day moving average price of $12.37. The firm has a market cap of $5.94 billion, a P/E ratio of -92.58, a price-to-earnings-growth ratio of 14.55 and a beta of 1.03.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a report on Friday, May 30th. Morgan Stanley lifted their price target on shares of UiPath from $12.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Barclays reiterated an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Royal Bank Of Canada lifted their price target on shares of UiPath from $13.00 to $15.00 and gave the stock a "sector perform" rating in a report on Friday, May 30th. Finally, Evercore ISI lifted their price target on shares of UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.83.

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.