Summit Trail Advisors LLC Lowers Stock Holdings in UiPath Inc. (NYSE:PATH)

Summit Trail Advisors LLC cut its position in UiPath Inc. (NYSE:PATH - Free Report) by 16.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 649,447 shares of the healthcare company's stock after selling 130,489 shares during the quarter. UiPath accounts for about 0.5% of Summit Trail Advisors LLC's portfolio, making the stock its 29th largest holding. Summit Trail Advisors LLC owned about 0.11% of UiPath worth $16,132,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of UiPath by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company's stock worth $645,916,000 after purchasing an additional 2,673,718 shares during the period. FMR LLC raised its position in shares of UiPath by 2.9% in the 3rd quarter. FMR LLC now owns 16,238,176 shares of the healthcare company's stock worth $277,835,000 after acquiring an additional 463,032 shares in the last quarter. Senvest Management LLC boosted its position in shares of UiPath by 3.0% during the 3rd quarter. Senvest Management LLC now owns 6,209,655 shares of the healthcare company's stock valued at $106,247,000 after purchasing an additional 181,722 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in UiPath by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company's stock valued at $131,687,000 after buying an additional 119,782 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of UiPath by 10.4% during the 3rd quarter. Northern Trust Corp now owns 2,467,710 shares of the healthcare company's stock worth $42,223,000 after buying an additional 233,362 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of UiPath from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 14th. BMO Capital Markets upped their target price on UiPath from $24.00 to $28.00 and gave the stock a "market perform" rating in a research report on Thursday, March 14th. DA Davidson lifted their price target on shares of UiPath from $20.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. raised shares of UiPath from a "neutral" rating to an "overweight" rating and raised their price target for the company from $22.00 to $28.00 in a research report on Thursday, March 14th. Finally, Scotiabank boosted their price objective on UiPath from $29.00 to $30.00 and gave the stock a "sector perform" rating in a report on Thursday, March 14th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.41.

UiPath Stock Performance

NYSE:PATH traded up $0.16 during trading hours on Tuesday, reaching $20.01. The stock had a trading volume of 5,335,690 shares, compared to its average volume of 8,382,708. UiPath Inc. has a 12-month low of $12.89 and a 12-month high of $27.87. The stock has a 50 day simple moving average of $21.67 and a 200 day simple moving average of $21.75. The stock has a market cap of $11.39 billion, a P/E ratio of -117.76 and a beta of 1.01.

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

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $21.66, for a total value of $866,400.00. Following the completion of the transaction, the chief financial officer now directly owns 660,762 shares in the company, valued at $14,312,104.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 31.03% of the stock is owned by insiders.

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.