Mackenzie Financial Corp Sells 59,830 Shares of UiPath Inc. (NYSE:PATH)

Mackenzie Financial Corp lessened its holdings in shares of UiPath Inc. (NYSE:PATH - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,797,197 shares of the company's stock after selling 59,830 shares during the quarter. Mackenzie Financial Corp owned 0.33% of UiPath worth $22,842,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PATH. Smartleaf Asset Management LLC increased its stake in shares of UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock worth $31,000 after buying an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after purchasing an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock valued at $38,000 after purchasing an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after purchasing an additional 759 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in UiPath in the fourth quarter worth about $50,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PATH. Bank of America reissued an "underperform" rating and set a $10.00 price target (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Evercore ISI reduced their price target on shares of UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a research report on Thursday, March 13th. Mizuho lowered their price objective on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a report on Wednesday, March 26th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $13.00 target price on shares of UiPath in a research note on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.72.

UiPath Stock Up 0.1%

Shares of PATH traded up $0.02 during mid-day trading on Thursday, reaching $12.96. The company's stock had a trading volume of 27,011,856 shares, compared to its average volume of 10,996,365. The company has a market cap of $7.15 billion, a price-to-earnings ratio of -80.98 and a beta of 1.01. The business has a fifty day moving average of $11.46 and a 200 day moving average of $12.70. UiPath Inc. has a 1 year low of $9.38 and a 1 year high of $18.63.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.12). UiPath had a negative return on equity of 4.14% and a negative net margin of 6.49%. On average, analysts predict that UiPath Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.01, for a total value of $1,186,527.95. Following the transaction, the chief financial officer now directly owns 987,322 shares of the company's stock, valued at $11,857,737.22. This represents a 9.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the sale, the chief accounting officer now owns 314,891 shares of the company's stock, valued at approximately $3,208,739.29. This represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.19% of the stock is currently owned by corporate insiders.

About UiPath

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.