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

Wealth Enhancement Advisory Services LLC trimmed its position in UiPath, Inc. (NYSE:PATH - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PATH. Jackson Creek Investment Advisors LLC purchased a new stake in UiPath in the fourth quarter valued at $298,000. Bank of New York Mellon Corp boosted its holdings in UiPath by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company's stock valued at $30,984,000 after purchasing an additional 66,100 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in UiPath by 27.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 353,993 shares of the company's stock valued at $4,499,000 after purchasing an additional 76,647 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in UiPath in the fourth quarter valued at $307,000. Finally, Invesco Ltd. boosted its holdings in UiPath by 10.5% in the fourth 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 last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

UiPath Trading Up 3.3%

PATH stock traded up $0.42 during mid-day trading on Friday, reaching $13.27. The company's stock had a trading volume of 6,853,764 shares, compared to its average volume of 10,418,757. The stock has a market cap of $7.10 billion, a PE ratio of -110.57, a P/E/G ratio of 17.41 and a beta of 1.04. UiPath, Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The company's 50 day moving average is $12.57 and its two-hundred day moving average is $12.48.

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. The business had revenue of $356.62 million during the quarter, compared to the consensus estimate of $332.17 million. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The business's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 EPS. On average, analysts forecast that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on PATH shares. Royal Bank Of Canada upped their price target on shares of UiPath from $13.00 to $15.00 and gave the company a "sector perform" rating in a report on Friday, May 30th. Bank of America restated an "underperform" rating and set a $10.00 price target (down previously from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Evercore ISI upped their price target 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. UBS Group reduced their price target 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. Finally, Truist Financial upped their price target on shares of UiPath from $12.00 to $13.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, UiPath presently has an average rating of "Hold" and a consensus target price of $13.83.

Insider Buying and Selling

In related news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $12.54, for a total transaction of $564,300.00. Following the completion of the transaction, the chief executive officer owned 5,463,376 shares of the company's stock, valued at approximately $68,510,735.04. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 987,322 shares of the company's stock, valued at $11,857,737.22. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 380,117 shares of company stock valued at $4,726,694 in the last ninety days. 23.19% of the stock is currently owned by corporate insiders.

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.