Nikko Asset Management Americas Inc. Has $79.49 Million Holdings in UiPath, Inc. (NYSE:PATH)

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in UiPath, Inc. by 38.7% in the first quarter, trimming its holdings to approximately 7.7 million shares, which represent about 1.0% of its investment portfolio.
• CEO Daniel Dines and CFO Ashim Gupta both sold significant shares of UiPath, indicating potential concerns or a strategy shift within the company.
• Wall Street analysts have mixed views on UiPath, with ratings ranging from strong buy to hold, and a current average target price of $13.83.

Nikko Asset Management Americas Inc. decreased its stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 38.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,717,456 shares of the company's stock after selling 4,872,835 shares during the period. UiPath makes up about 1.0% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 28th largest holding. Nikko Asset Management Americas Inc. owned about 1.40% of UiPath worth $79,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new position in shares of UiPath in the 1st quarter valued at about $2,247,000. Cetera Investment Advisers grew its position in shares of UiPath by 2.3% in the 1st quarter. Cetera Investment Advisers now owns 74,696 shares of the company's stock valued at $769,000 after acquiring an additional 1,652 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of UiPath in the 1st quarter valued at about $108,000. Wakefield Asset Management LLLP grew its position in shares of UiPath by 8.3% in the 1st quarter. Wakefield Asset Management LLLP now owns 85,276 shares of the company's stock valued at $878,000 after acquiring an additional 6,516 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of UiPath in the 1st quarter valued at about $1,639,000. Institutional investors own 62.50% of the company's stock.

Insider Activity at UiPath

In related news, CEO Daniel Dines sold 45,000 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $12.16, for a total transaction of $547,200.00. Following the completion of the sale, the chief executive officer owned 4,698,376 shares of the company's stock, valued at $57,132,252.16. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 875,117 shares of company stock worth $10,952,894. 23.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PATH has been the subject of several research analyst reports. Royal Bank Of Canada lifted their target price 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. Wells Fargo & Company restated an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Wall Street Zen raised UiPath from a "buy" rating to a "strong-buy" rating in a report on Saturday. Evercore ISI lifted their target price on UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a report on Friday, May 30th. Finally, DA Davidson upgraded shares of UiPath to a "hold" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $13.83.

UiPath Stock Performance

Shares of PATH stock traded up $0.04 on Wednesday, hitting $12.12. The company had a trading volume of 13,295,467 shares, compared to its average volume of 11,721,129. UiPath, Inc. has a twelve month low of $9.38 and a twelve month high of $15.93. The firm has a market cap of $6.49 billion, a P/E ratio of -100.87, a P/E/G ratio of 16.00 and a beta of 1.04. The stock's 50-day moving average is $12.67 and its two-hundred day moving average is $12.41.

UiPath (NYSE:PATH - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $356.62 million during the quarter, compared to analyst estimates of $332.17 million. During the same quarter last year, the business earned $0.13 EPS. The company's revenue was up 6.4% compared to the same quarter last year. Equities research analysts predict that UiPath, Inc. will post -0.17 EPS for the current year.

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.