Sumitomo Mitsui Trust Group Inc. Has $82.83 Million Holdings in UiPath, Inc. (NYSE:PATH)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 36.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,041,596 shares of the company's stock after selling 4,548,695 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 1.46% of UiPath worth $82,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in UiPath by 13.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,811 shares of the company's stock valued at $800,000 after acquiring an additional 9,125 shares in the last quarter. Graphene Investments SAS raised its holdings in shares of UiPath by 21.9% during the 1st quarter. Graphene Investments SAS now owns 248,100 shares of the company's stock valued at $2,555,000 after purchasing an additional 44,600 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of UiPath in the 1st quarter valued at $266,000. Archford Capital Strategies LLC boosted its holdings in UiPath by 68.4% in the first quarter. Archford Capital Strategies LLC now owns 98,733 shares of the company's stock worth $1,017,000 after purchasing an additional 40,109 shares in the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in UiPath by 41.0% in the first quarter. Palumbo Wealth Management LLC now owns 15,982 shares of the company's stock worth $165,000 after purchasing an additional 4,645 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

UiPath Trading Up 3.3%

NYSE:PATH traded up $0.42 during trading hours on Friday, hitting $13.27. 6,853,764 shares of the company traded hands, compared to its average volume of 10,418,757. UiPath, Inc. has a twelve month low of $9.38 and a twelve month high of $15.93. The firm has a 50-day moving average of $12.60 and a 200 day moving average of $12.47. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of -110.57, a P/E/G ratio of 17.41 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 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $356.62 million during 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 firm's revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts predict that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PATH. Needham & Company LLC restated a "hold" rating on shares of UiPath in a report on Friday, May 30th. BMO Capital Markets raised their price objective on UiPath from $11.50 to $15.50 and gave the company a "market perform" rating in a research note on Friday, May 30th. Truist Financial upped their target price on UiPath from $12.00 to $13.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Mizuho decreased their target price on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Barclays reissued an "equal weight" rating on shares of UiPath 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 two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, UiPath presently has an average rating of "Hold" and a consensus target price of $13.83.

Insider Activity at UiPath

In other news, CFO Ashim Gupta sold 56,322 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.72, for a total value of $716,415.84. Following the completion of the transaction, the chief financial officer owned 859,991 shares in the company, 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 can be accessed through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $12.54, for a total value of $564,300.00. Following the completion of the sale, the chief executive officer owned 5,463,376 shares in the company, valued at approximately $68,510,735.04. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 380,117 shares of company stock worth $4,726,694 in the last three months. 23.19% of the stock is owned by insiders.

UiPath 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.