UiPath, Inc. (NYSE:PATH) Shares Sold by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board has reduced its stake in UiPath, Inc. by 30.3% during the first quarter, selling 47,267 shares and leaving them with 108,489 shares valued at approximately $1.12 million.
• UiPath's CEO, Daniel Dines, sold 9,988 shares for about $119,856, reducing his ownership to 4,598,388 shares valued at approximately $55.18 million.
• UiPath's stock has recently traded down 2.6%, with a current price of $10.65, and analysts have given it an average rating of "Hold" with a price target of $13.83.

Ontario Teachers Pension Plan Board lowered its stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 30.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,489 shares of the company's stock after selling 47,267 shares during the period. Ontario Teachers Pension Plan Board's holdings in UiPath were worth $1,117,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Bank of Nova Scotia acquired a new stake in UiPath in the 1st quarter worth about $3,907,000. Clear Creek Financial Management LLC purchased a new position in shares of UiPath in the 1st quarter worth about $266,000. Invesco Ltd. raised its holdings in shares of UiPath by 10.5% in the 4th quarter. Invesco Ltd. now owns 382,800 shares of the company's stock worth $4,865,000 after purchasing an additional 36,332 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of UiPath in the 1st quarter worth about $241,000. Finally, Pallas Capital Advisors LLC raised its holdings in shares of UiPath by 32.2% in the 1st quarter. Pallas Capital Advisors LLC now owns 84,776 shares of the company's stock worth $873,000 after purchasing an additional 20,667 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

UiPath Trading Up 3.9%

PATH stock traded up $0.41 during midday trading on Wednesday, hitting $10.91. 6,206,415 shares of the company's stock were exchanged, compared to its average volume of 11,696,224. UiPath, Inc. has a 12-month low of $9.38 and a 12-month high of $15.93. The firm has a 50 day moving average price of $12.36 and a 200-day moving average price of $12.25. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of -91.03, a price-to-earnings-growth ratio of 13.68 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 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business earned $0.13 EPS. UiPath's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at UiPath

In other UiPath news, CEO Daniel Dines sold 9,988 shares of UiPath stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $12.00, for a total transaction of $119,856.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 831,310 shares of company stock worth $10,428,922. 23.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Mizuho cut their price objective on UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Scotiabank raised their price objective on UiPath from $12.00 to $13.00 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. Evercore ISI raised their price objective on UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a report on Friday, May 30th. Finally, Canaccord Genuity Group set a $16.00 price objective on UiPath and gave the stock a "buy" rating in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.