Harel Insurance Investments & Financial Services Ltd. Sells 41,554 Shares of UiPath Inc. (NYSE:PATH)

Harel Insurance Investments & Financial Services Ltd. lessened its holdings in UiPath Inc. (NYSE:PATH - Free Report) by 42.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,000 shares of the healthcare company's stock after selling 41,554 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in UiPath were worth $1,429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PATH. BlackRock Inc. grew its holdings in shares of UiPath by 32.1% during the 2nd quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company's stock worth $387,354,000 after purchasing an additional 5,681,577 shares in the last quarter. Altimeter Capital Management LP increased its holdings in UiPath by 175.4% in the 1st quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company's stock valued at $71,579,000 after buying an additional 5,270,194 shares during the period. Millennium Management LLC raised its position in shares of UiPath by 899.5% in the 4th quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company's stock valued at $51,475,000 after buying an additional 3,644,799 shares in the last quarter. State Street Corp lifted its holdings in shares of UiPath by 251.1% during the 2nd quarter. State Street Corp now owns 4,996,369 shares of the healthcare company's stock worth $90,884,000 after acquiring an additional 3,573,238 shares during the period. Finally, Norges Bank acquired a new stake in shares of UiPath during the 4th quarter worth approximately $42,215,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. DA Davidson increased their price objective on shares of UiPath from $20.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, March 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 target price on shares of UiPath in a report on Monday, April 1st. KeyCorp began coverage on UiPath in a research note on Monday, April 8th. They issued an "overweight" rating and a $27.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of UiPath from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 14th. Finally, Mizuho boosted their target price on shares of UiPath from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.41.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the company's stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $21.66, for a total transaction of $866,400.00. Following the sale, the chief financial officer now directly owns 660,762 shares of the company's stock, valued at $14,312,104.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 72,000 shares of company stock valued at $1,591,360 over the last ninety days. 31.03% of the stock is currently owned by insiders.

UiPath Price Performance

Shares of NYSE:PATH traded down $1.23 during mid-day trading on Monday, hitting $19.49. The company had a trading volume of 11,194,448 shares, compared to its average volume of 9,102,091. UiPath Inc. has a one year low of $12.38 and a one year high of $27.87. The firm has a fifty day moving average price of $23.30 and a 200 day moving average price of $21.44. The company has a market capitalization of $11.09 billion, a PE ratio of -118.58 and a beta of 0.96.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. The firm had revenue of $405.25 million during the quarter, compared to the consensus estimate of $383.32 million. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. Research analysts expect that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

UiPath Company 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.