UiPath, Inc. $PATH Shares Acquired by D.A. Davidson & CO.

Key Points

• D.A. Davidson & CO. raised its stake in UiPath by 23.8% to 752,448 shares (about $10.07M), and institutional investors now own roughly 62.5% of the company.
• Significant insider selling occurred—CEO Daniel Dines and CFO Ashim Gupta sold large blocks (122,734 and 240,874 shares respectively) and insiders have offloaded 1,821,970 shares worth about $30.45M in the last 90 days, leaving insiders with 23.19% ownership.
• UiPath beat the quarter with $411.1M revenue and $0.16 EPS, prompting several firms to raise price targets; the consensus rating is Hold with an average target of $15.85 while Canaccord lifted its target to $19 with a Buy rating.

D.A. Davidson & CO. boosted its holdings in UiPath, Inc. (NYSE:PATH - Free Report) by 23.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 752,448 shares of the company's stock after buying an additional 144,832 shares during the quarter. D.A. Davidson & CO. owned 0.14% of UiPath worth $10,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new stake in shares of UiPath during the 2nd quarter worth $28,000. AdvisorNet Financial Inc lifted its holdings in shares of UiPath by 320.4% during the second quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company's stock valued at $32,000 after purchasing an additional 1,887 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of UiPath by 48.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the company's stock valued at $38,000 after purchasing an additional 969 shares during the period. IFP Advisors Inc increased its stake in UiPath by 508.0% in the 2nd quarter. IFP Advisors Inc now owns 3,283 shares of the company's stock worth $42,000 after purchasing an additional 2,743 shares in the last quarter. Finally, Bayforest Capital Ltd raised its holdings in UiPath by 852.4% during the 2nd quarter. Bayforest Capital Ltd now owns 4,143 shares of the company's stock worth $53,000 after buying an additional 3,708 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

Insider Activity at UiPath

In other UiPath news, CEO Daniel Dines sold 122,734 shares of UiPath stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $17.06, for a total value of $2,093,842.04. Following the completion of the sale, the chief executive officer directly owned 368,202 shares in the company, valued at $6,281,526.12. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 240,874 shares of the business's stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $17.28, for a total transaction of $4,162,302.72. Following the completion of the sale, the chief financial officer directly owned 696,117 shares of the company's stock, valued at $12,028,901.76. This represents a 25.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,821,970 shares of company stock worth $30,448,280. Insiders own 23.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on PATH shares. BMO Capital Markets raised their target price on shares of UiPath from $13.00 to $17.00 and gave the stock a "market perform" rating in a report on Thursday, December 4th. Wells Fargo & Company raised their price objective on shares of UiPath from $12.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 4th. Mizuho lifted their price objective on shares of UiPath from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, December 4th. DA Davidson increased their target price on UiPath from $12.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday, December 4th. Finally, Canaccord Genuity Group raised their target price on UiPath from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.85.

UiPath Trading Up 0.9%

Shares of NYSE:PATH opened at $16.02 on Tuesday. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 38.15, a P/E/G ratio of 4.80 and a beta of 1.08. UiPath, Inc. has a 1 year low of $9.38 and a 1 year high of $19.84. The business has a fifty day simple moving average of $15.56 and a 200 day simple moving average of $13.69.

UiPath (NYSE:PATH - Get Free Report) last issued its earnings results on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. UiPath had a return on equity of 3.73% and a net margin of 14.79%.The firm had revenue of $411.11 million for the quarter, compared to the consensus estimate of $392.46 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The business's quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts forecast that UiPath, Inc. will post -0.17 EPS for the current year.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.

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