Avanza Fonder AB Cuts Stock Holdings in UiPath Inc. (NYSE:PATH)

Avanza Fonder AB cut its holdings in UiPath Inc. (NYSE:PATH - Free Report) by 56.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,675 shares of the company's stock after selling 36,538 shares during the period. Avanza Fonder AB's holdings in UiPath were worth $299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC purchased a new stake in UiPath in the 4th quarter worth approximately $298,000. ING Groep NV bought a new stake in shares of UiPath during the 4th quarter worth $3,120,000. Bank of New York Mellon Corp lifted its holdings in shares of UiPath by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company's stock worth $30,984,000 after acquiring an additional 66,100 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in shares of UiPath by 27.6% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 353,993 shares of the company's stock worth $4,499,000 after acquiring an additional 76,647 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of UiPath during the 4th quarter worth $307,000. 62.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PATH shares. Evercore ISI lifted their target price on shares of UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a research report on Friday, May 30th. BMO Capital Markets lifted their target price on shares of UiPath from $11.50 to $15.50 and gave the stock a "market perform" rating in a research report on Friday, May 30th. Wells Fargo & Company reiterated an "equal weight" rating on shares of UiPath in a research report on Friday, May 30th. Barclays restated an "equal weight" rating on shares of UiPath in a research report on Friday, May 30th. Finally, Scotiabank lifted their target price on shares of UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a research note on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, UiPath presently has a consensus rating of "Hold" and a consensus price target of $13.83.

Insider Buying and Selling at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the completion of the sale, the chief accounting officer now owns 314,891 shares in the company, valued at approximately $3,208,739.29. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashim Gupta sold 98,795 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the transaction, the chief financial officer now directly owns 987,322 shares in the company, valued at $11,857,737.22. This represents a 9.10% decrease in their position. The disclosure for this sale can be found here. 23.19% of the stock is owned by company insiders.

UiPath Trading Down 3.3%

PATH stock traded down $0.42 during midday trading on Friday, reaching $12.24. 9,238,387 shares of the company's stock traded hands, compared to its average volume of 10,535,357. UiPath Inc. has a 52-week low of $9.38 and a 52-week high of $15.93. The stock has a market cap of $6.55 billion, a P/E ratio of -76.51 and a beta of 1.06. The stock's 50-day moving average is $12.03 and its 200 day moving average is $12.65.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $356.62 million during the quarter, compared to analyst estimates of $332.17 million. UiPath had a negative net margin of 6.49% and a negative return on equity of 4.14%. The company's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, research analysts expect that UiPath Inc. will post -0.17 EPS for the current fiscal 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.