UiPath Inc. (NYSE:PATH) Holdings Lowered by Parallel Advisors LLC

Parallel Advisors LLC cut its stake in UiPath Inc. (NYSE:PATH) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,636 shares of the company’s stock after selling 2,058 shares during the period. Parallel Advisors LLC’s holdings in UiPath were worth $789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perigon Wealth Management LLC acquired a new stake in shares of UiPath during the 4th quarter valued at $145,000. Chicago Partners Investment Group LLC purchased a new stake in shares of UiPath during the fourth quarter valued at $213,000. SYM FINANCIAL Corp acquired a new position in shares of UiPath in the 4th quarter valued at $171,000. Bank Hapoalim BM boosted its position in shares of UiPath by 14.6% in the 4th quarter. Bank Hapoalim BM now owns 84,659 shares of the company’s stock valued at $1,076,000 after purchasing an additional 10,760 shares during the period. Finally, Lecap Asset Management Ltd. increased its stake in UiPath by 69.7% in the 4th quarter. Lecap Asset Management Ltd. now owns 116,289 shares of the company’s stock worth $1,478,000 after purchasing an additional 47,772 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PATH. Bank of America reiterated an “underperform” rating and issued a $10.00 target price (down from $18.00) on shares of UiPath in a report on Thursday, March 13th. Scotiabank raised their price objective on shares of UiPath from $12.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Friday. Truist Financial boosted their target price on shares of UiPath from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Friday. Evercore ISI raised their target price on UiPath from $11.00 to $15.00 and gave the stock an “in-line” rating in a research report on Friday. Finally, Royal Bank of Canada lifted their price target on UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.41.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the sale, the chief financial officer now owns 987,322 shares of the company’s stock, valued at $11,857,737.22. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the transaction, the chief accounting officer now owns 314,891 shares in the company, valued at approximately $3,208,739.29. This trade represents a 3.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.19% of the company’s stock.

UiPath Stock Performance

NYSE:PATH opened at $13.28 on Monday. The company has a market capitalization of $7.32 billion, a P/E ratio of -83.00 and a beta of 1.01. The stock’s 50 day moving average price is $11.53 and its 200 day moving average price is $12.69. UiPath Inc. has a 52 week low of $9.38 and a 52 week high of $15.93.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. UiPath had a negative net margin of 6.49% and a negative return on equity of 4.14%. The business had revenue of $356.62 million for the quarter, compared to the consensus estimate of $332.17 million. During the same quarter last year, the firm earned $0.13 EPS. UiPath’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that UiPath Inc. will post -0.17 earnings per share for the current fiscal 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.