UiPath, Inc. (NYSE:PATH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in UiPath, Inc. (NYSE:PATH - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 0.41% of UiPath worth $23,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PATH. Norges Bank purchased a new position in shares of UiPath in the 4th quarter worth about $71,191,000. Senvest Management LLC raised its position in UiPath by 29.2% in the 4th 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 raised its position in UiPath by 45.3% in the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after buying an additional 2,072,089 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in UiPath by 35.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock worth $69,385,000 after buying an additional 1,432,569 shares during the last quarter. Finally, Marshall Wace LLP raised its position in UiPath by 111.8% in the 4th quarter. Marshall Wace LLP now owns 2,456,102 shares of the company's stock worth $31,217,000 after buying an additional 1,296,382 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

UiPath Stock Performance

PATH stock traded up $0.22 during midday trading on Friday, reaching $12.55. The company's stock had a trading volume of 16,523,646 shares, compared to its average volume of 10,364,601. The stock has a fifty day simple moving average of $12.75 and a two-hundred day simple moving average of $12.45. UiPath, Inc. has a 1 year low of $9.38 and a 1 year high of $15.93. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of -104.57, a PEG ratio of 16.49 and a beta of 1.04.

UiPath (NYSE:PATH - Get Free Report) last posted 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. UiPath had a negative return on equity of 3.05% and a negative net margin of 4.65%. The business had revenue of $356.62 million for the quarter, compared to the consensus estimate of $332.17 million. During the same quarter in the prior year, the company earned $0.13 EPS. The business's revenue was up 6.4% compared to the same quarter last year. As a group, analysts forecast that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other UiPath news, CEO Daniel Dines sold 45,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $12.38, for a total value 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 trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 56,322 shares of UiPath stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 859,991 shares in the company, valued at $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. In the last three months, insiders sold 695,117 shares of company stock valued at $8,716,844. Corporate insiders own 23.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PATH. BMO Capital Markets upped their price target on shares of UiPath from $11.50 to $15.50 and gave the company a "market perform" rating in a research report on Friday, May 30th. Evercore ISI upped their price target on shares of UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a research report on Friday, May 30th. Canaccord Genuity Group set a $16.00 price target on shares of UiPath and gave the company a "buy" rating in a research report on Monday, June 2nd. Scotiabank upped their price target on shares of UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of UiPath in a research note on Friday, May 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $13.83.

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.