Bank of New York Mellon Corp Sells 168,013 Shares of UiPath, Inc. (NYSE:PATH)

Bank of New York Mellon Corp trimmed its holdings in UiPath, Inc. (NYSE:PATH - Free Report) by 6.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,269,743 shares of the company's stock after selling 168,013 shares during the quarter. Bank of New York Mellon Corp owned about 0.41% of UiPath worth $23,378,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc increased its position in UiPath by 198.6% in the first quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock worth $31,000 after purchasing an additional 1,970 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock worth $38,000 after buying an additional 1,742 shares during the period. CX Institutional acquired a new position in shares of UiPath during the 1st quarter worth about $36,000. Harvest Fund Management Co. Ltd acquired a new position in shares of UiPath during the 4th quarter worth about $50,000. Finally, True Wealth Design LLC grew its position in shares of UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock worth $66,000 after buying an additional 801 shares during the period. 62.50% of the stock is owned by institutional investors.

UiPath Price Performance

NYSE PATH traded down $0.11 on Monday, reaching $12.49. The stock had a trading volume of 24,446,047 shares, compared to its average volume of 10,420,950. The firm has a fifty day moving average of $12.75 and a two-hundred day moving average of $12.45. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $15.93. The company has a market cap of $6.68 billion, a P/E ratio of -104.03, a price-to-earnings-growth ratio of 16.49 and a beta of 1.04.

UiPath (NYSE:PATH - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $356.62 million for the quarter, compared to analyst estimates of $332.17 million. UiPath had a negative return on equity of 3.05% and a negative net margin of 4.65%. UiPath's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 EPS. Research analysts predict that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at UiPath

In other news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $12.38, for a total transaction of $557,100.00. Following the sale, the chief executive officer directly owned 4,968,376 shares of the company's stock, valued at approximately $61,508,494.88. This represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 56,322 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $12.72, for a total value of $716,415.84. Following the sale, the chief financial officer owned 859,991 shares of the company's stock, valued at approximately $10,939,085.52. This represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 695,117 shares of company stock worth $8,716,844. 23.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. 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. Scotiabank lifted their price objective on UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a report on Friday, May 30th. Wells Fargo & Company reiterated an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Truist Financial lifted their price objective on UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a report on Friday, May 30th. Finally, Evercore ISI lifted their price objective on UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a 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 given a buy rating to the stock. Based on data from MarketBeat, UiPath currently has a consensus rating of "Hold" and a consensus target price of $13.83.

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.