Strategic Advocates LLC Trims Position in UiPath, Inc. (NYSE:PATH)

Key Points

• Strategic Advocates LLC reduced its stake in UiPath, Inc. by 43.7%, holding 60,191 shares valued at $620,000 after selling over 46,000 shares in the first quarter.
• Several institutional investors, including Deutsche Bank AG and Norges Bank, made significant changes to their holdings in UiPath, with Deutsche Bank increasing its stake by 280.3%.
• UiPath reported earnings of $0.11 per share, surpassing expectations, with quarterly revenue of $356.62 million, indicating a 6.4% growth compared to the previous year.

Strategic Advocates LLC reduced its position in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 43.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,191 shares of the company's stock after selling 46,642 shares during the quarter. Strategic Advocates LLC's holdings in UiPath were worth $620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clear Creek Financial Management LLC purchased a new position in shares of UiPath during the 1st quarter valued at about $266,000. Invesco Ltd. raised its stake in UiPath by 10.5% during the 4th quarter. Invesco Ltd. now owns 382,800 shares of the company's stock valued at $4,865,000 after purchasing an additional 36,332 shares during the period. Pallas Capital Advisors LLC raised its stake in UiPath by 32.2% during the 1st quarter. Pallas Capital Advisors LLC now owns 84,776 shares of the company's stock valued at $873,000 after purchasing an additional 20,667 shares during the period. Deutsche Bank AG raised its stake in UiPath by 280.3% during the 4th quarter. Deutsche Bank AG now owns 1,505,585 shares of the company's stock valued at $19,136,000 after purchasing an additional 1,109,669 shares during the period. Finally, Norges Bank bought a new stake in UiPath during the 4th quarter valued at approximately $71,191,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of UiPath in a research note on Friday, May 30th. BMO Capital Markets boosted their target price on UiPath from $11.50 to $15.50 and gave the company a "market perform" rating in a research report on Friday, May 30th. Truist Financial boosted their target price on UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a research report on Friday, May 30th. Finally, Evercore ISI boosted their target price on UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a research report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, UiPath currently has an average rating of "Hold" and an average price target of $13.83.

UiPath Stock Performance

NYSE PATH traded down $0.10 during trading on Tuesday, reaching $11.24. 5,033,601 shares of the company's stock were exchanged, compared to its average volume of 11,796,526. The stock has a market cap of $6.02 billion, a P/E ratio of -93.70, a price-to-earnings-growth ratio of 14.55 and a beta of 1.03. The company has a 50 day moving average price of $12.61 and a two-hundred day moving average price 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 announced its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during 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% on a year-over-year basis. Research analysts forecast that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 56,322 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $12.72, for a total transaction of $716,415.84. Following the completion of the transaction, the chief financial officer directly owned 859,991 shares of the company's stock, valued at approximately $10,939,085.52. This represents a 6.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Dines sold 45,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $12.43, for a total value of $559,350.00. Following the completion of the sale, the chief executive officer owned 5,058,376 shares in the company, valued at approximately $62,875,613.68. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 831,310 shares of company stock valued at $10,428,922. Company insiders own 23.19% of the company's stock.

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.