Wealth Enhancement Advisory Services LLC Lowers Position in UiPath, Inc. (NYSE:PATH)

Wealth Enhancement Advisory Services LLC lowered its position in UiPath, Inc. (NYSE:PATH - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 123,838 shares of the company's stock after selling 36,531 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in UiPath were worth $1,276,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PATH. Norges Bank bought a new position in shares of UiPath in the 4th quarter worth $71,191,000. Senvest Management LLC raised its holdings in UiPath by 29.2% during the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock worth $178,890,000 after buying an additional 3,180,300 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of UiPath by 45.3% in the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock valued at $84,209,000 after buying an additional 2,072,089 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of UiPath by 35.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock valued at $69,385,000 after buying an additional 1,432,569 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of UiPath by 111.8% during the fourth quarter. Marshall Wace LLP now owns 2,456,102 shares of the company's stock valued at $31,217,000 after buying an additional 1,296,382 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

UiPath Price Performance

Shares of PATH traded up $0.16 during mid-day trading on Wednesday, hitting $12.85. The stock had a trading volume of 8,313,161 shares, compared to its average volume of 10,414,673. UiPath, Inc. has a 52 week low of $9.38 and a 52 week high of $15.93. The business has a fifty day moving average price of $12.49 and a 200-day moving average price of $12.48. The firm has a market cap of $6.88 billion, a P/E ratio of -107.07, a PEG ratio of 16.62 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $356.62 million for the quarter, compared to analysts' expectations of $332.17 million. UiPath had a negative return on equity of 3.05% and a negative net margin of 4.65%. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. As a group, research analysts expect that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 56,322 shares of UiPath stock in a transaction dated 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 owned 859,991 shares of the company's stock, valued at $10,939,085.52. The trade was a 6.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Hitesh Ramani sold 12,500 shares of the company'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 sale, the chief accounting officer owned 314,891 shares in the company, valued at approximately $3,208,739.29. This represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 392,617 shares of company stock worth $4,854,069 over the last 90 days. Corporate insiders own 23.19% of the company's stock.

Analysts Set New Price Targets

PATH has been the topic of several recent research reports. DA Davidson raised shares of UiPath to a "hold" rating in a research report on Monday, June 9th. Mizuho dropped their target price on UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley upped their target price on shares of UiPath from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Royal Bank Of Canada raised their price target on shares of UiPath from $13.00 to $15.00 and gave the company a "sector perform" rating in a research report on Friday, May 30th. Finally, UBS Group reduced their price objective on shares of UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, UiPath 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.