Rhumbline Advisers Sells 96,773 Shares of UiPath, Inc. $PATH

Rhumbline Advisers reduced its stake in UiPath, Inc. by 20.4% in Q2, selling 96,773 shares. The stock's price targets were adjusted by analysts, with a consensus "Hold" rating and an average target price of $15.64. UiPath's stock opened at $18.50, with a 52-week range of $9.38 to $18.74.

Rhumbline Advisers lowered its position in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 20.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 377,233 shares of the company's stock after selling 96,773 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of UiPath worth $4,829,000 at the end of the most recent reporting period.

The New Brain of Business: UiPath Is Creating an AI Revolution

Several other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in UiPath by 48.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the company's stock worth $38,000 after purchasing an additional 969 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of UiPath by 0.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 123,329 shares of the company's stock valued at $1,579,000 after purchasing an additional 1,033 shares during the last quarter. Covestor Ltd grew its position in shares of UiPath by 13.1% during the 1st quarter. Covestor Ltd now owns 11,070 shares of the company's stock worth $114,000 after buying an additional 1,283 shares during the period. Advyzon Investment Management LLC raised its stake in shares of UiPath by 7.7% during the second quarter. Advyzon Investment Management LLC now owns 18,973 shares of the company's stock worth $243,000 after buying an additional 1,355 shares during the last quarter. Finally, CX Institutional raised its stake in shares of UiPath by 43.3% during the second quarter. CX Institutional now owns 5,014 shares of the company's stock worth $64,000 after buying an additional 1,515 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Insider Buying and Selling at UiPath

In related news, CEO Daniel Dines sold 45,000 shares of the company's stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $15.07, for a total value of $678,150.00. Following the completion of the transaction, the chief executive officer directly owned 29,288,585 shares of the company's stock, valued at approximately $441,378,975.95. This represents a 0.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hitesh Ramani sold 5,000 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $15.47, for a total value of $77,350.00. Following the transaction, the chief accounting officer owned 182,776 shares of the company's stock, valued at approximately $2,827,544.72. This trade represents a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,319,002 shares of company stock worth $34,094,875 over the last ninety days. 23.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

3 Robotics Stocks at the Heart of the Robotics Revolution

A number of equities analysts have issued reports on PATH shares. UBS Group reaffirmed a "neutral" rating on shares of UiPath in a research note on Thursday. Cowen restated a "hold" rating on shares of UiPath in a research report on Thursday. Evercore ISI lifted their price objective on UiPath from $15.00 to $17.00 and gave the stock an "in-line" rating in a research note on Thursday. Barclays upped their price objective on UiPath from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, BMO Capital Markets raised their target price on UiPath from $13.00 to $17.00 and gave the stock a "market perform" rating in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.64.

Check Out Our Latest Report on PATH

UiPath Stock Performance

3 Mid-Cap Stocks Turning Heads in AI, Automation, & Cybersecurity

Shares of PATH opened at $18.50 on Friday. The stock has a 50 day simple moving average of $14.80 and a 200 day simple moving average of $13.03. UiPath, Inc. has a 52-week low of $9.38 and a 52-week high of $18.74. The firm has a market capitalization of $9.83 billion, a PE ratio of 44.05, a P/E/G ratio of 5.50 and a beta of 1.10.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $411.11 million for the quarter, compared to analyst estimates of $392.46 million. UiPath had a net margin of 14.79% and a return on equity of 3.83%. The business's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Equities research analysts predict that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

UiPath Profile

(Free Report)

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.

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