UiPath, Inc. $PATH Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its stake in UiPath (PATH) by 96.7% in Q3, selling 1,075,489 shares and leaving 37,151 shares valued at about $497,000, per its 13F filing.
• Company insiders have sold heavily in recent months—including CFO Ashim Gupta and CEO Daniel Dines—with 1,180,048 shares sold (~$19.6M) in the last three months, though insiders still own 23.19% of the company.
• UiPath beat the quarter with $0.16 EPS vs. $0.14 est. and revenue of $411.11M (+15.9% YoY), but analysts maintain a consensus "Hold" rating with an average target of $16 while the stock trades near $14.32 (market cap ~$7.66B, PE 34.1).

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 96.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,151 shares of the company's stock after selling 1,075,489 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in UiPath were worth $497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in UiPath in the 2nd quarter valued at about $28,000. AdvisorNet Financial Inc lifted its stake in shares of UiPath by 320.4% in the second quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company's stock worth $32,000 after acquiring an additional 1,887 shares in the last quarter. GAMMA Investing LLC boosted its holdings in UiPath by 48.0% in the second 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 last quarter. IFP Advisors Inc boosted its holdings in UiPath by 508.0% in the second quarter. IFP Advisors Inc now owns 3,283 shares of the company's stock valued at $42,000 after purchasing an additional 2,743 shares during the last quarter. Finally, Bayforest Capital Ltd grew its stake in UiPath by 852.4% during the 2nd quarter. Bayforest Capital Ltd now owns 4,143 shares of the company's stock valued at $53,000 after purchasing an additional 3,708 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

UiPath Trading Down 3.2%

NYSE:PATH opened at $14.32 on Tuesday. The stock has a 50 day moving average of $15.73 and a 200-day moving average of $13.93. The firm has a market capitalization of $7.66 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 4.21 and a beta of 1.08. UiPath, Inc. has a 52 week low of $9.38 and a 52 week high of $19.84.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Zacks Research raised UiPath from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 30th. Royal Bank Of Canada dropped their price target on shares of UiPath from $19.00 to $17.00 and set a "sector perform" rating for the company in a research note on Monday, January 5th. Cowen reiterated a "hold" rating on shares of UiPath in a research note on Thursday, December 4th. DA Davidson raised their price objective on shares of UiPath from $12.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, December 4th. Finally, Wells Fargo & Company boosted their target price on shares of UiPath from $12.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.00.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 67,468 shares of the company's stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $16.10, for a total transaction of $1,086,234.80. Following the completion of the transaction, the chief financial officer owned 557,028 shares in the company, valued at approximately $8,968,150.80. This represents a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $19.21, for a total transaction of $864,450.00. Following the completion of the sale, the chief executive officer owned 29,153,585 shares in the company, valued at approximately $560,040,367.85. This represents a 0.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,180,048 shares of company stock valued at $19,604,094. Corporate insiders own 23.19% of the company's stock.

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. 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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