Strategic Advocates LLC Has $620,000 Holdings 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 cut its stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 43.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,191 shares of the company's stock after selling 46,642 shares during the period. Strategic Advocates LLC's holdings in UiPath were worth $620,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PATH. Clear Creek Financial Management LLC bought a new stake in shares of UiPath in the first quarter worth $266,000. Invesco Ltd. grew its stake in shares of UiPath by 10.5% in the fourth 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 last quarter. Pallas Capital Advisors LLC boosted its position in UiPath by 32.2% during the first quarter. Pallas Capital Advisors LLC now owns 84,776 shares of the company's stock valued at $873,000 after acquiring an additional 20,667 shares during the last quarter. Deutsche Bank AG boosted its position in UiPath by 280.3% during the fourth quarter. Deutsche Bank AG now owns 1,505,585 shares of the company's stock valued at $19,136,000 after acquiring an additional 1,109,669 shares during the last quarter. Finally, Norges Bank bought a new stake in UiPath during the fourth quarter valued at $71,191,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Trading Down 2.0%

Shares of NYSE PATH opened at $11.77 on Friday. The firm's 50-day moving average price is $12.65 and its 200-day moving average price is $12.39. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $15.93. The firm has a market capitalization of $6.29 billion, a P/E ratio of -98.03, a P/E/G ratio of 15.73 and a beta of 1.04.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $332.17 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. The business's quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that UiPath, Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling at UiPath

In related news, CEO Daniel Dines sold 45,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $12.06, for a total value of $542,700.00. Following the sale, the chief executive officer owned 4,608,376 shares in the company, valued at $55,577,014.56. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 821,322 shares of company stock valued at $10,309,066. Corporate insiders own 23.19% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PATH. Scotiabank upped their price target on shares of UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a research report on Friday, May 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a research report on Friday, May 30th. Mizuho cut their price target on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Canaccord Genuity Group set a $16.00 price target on shares of UiPath and gave the company a "buy" rating in a research report on Monday, June 2nd. Finally, DA Davidson raised shares of UiPath to a "hold" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, UiPath currently has a consensus 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.

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