KBC Group NV Reduces Stock Holdings in UiPath Inc. (NYSE:PATH)

KBC Group NV lessened its stake in shares of UiPath Inc. (NYSE:PATH) by 54.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,436 shares of the healthcare company’s stock after selling 23,158 shares during the quarter. KBC Group NV’s holdings in UiPath were worth $249,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PATH. Pacer Advisors Inc. purchased a new stake in UiPath in the second quarter valued at $69,180,000. Vanguard Group Inc. lifted its holdings in shares of UiPath by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after purchasing an additional 2,133,078 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of UiPath in the 2nd quarter valued at about $13,280,000. AQR Capital Management LLC grew its stake in UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company’s stock worth $20,385,000 after buying an additional 892,845 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in UiPath by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock worth $35,296,000 after buying an additional 754,519 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the sale, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at $10,258,498.19. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PATH shares. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research report on Friday, September 6th. BMO Capital Markets upped their target price on shares of UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price target on shares of UiPath in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Wednesday, October 23rd. Finally, Bank of America increased their price objective on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, UiPath presently has an average rating of “Hold” and a consensus price target of $17.47.

UiPath Stock Performance

UiPath stock opened at $12.76 on Wednesday. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The stock’s fifty day moving average is $12.63 and its two-hundred day moving average is $13.25. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of -63.77 and a beta of 0.87.

UiPath (NYSE:PATH) last posted its earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. UiPath’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. As a group, sell-side analysts forecast that UiPath Inc. will post -0.23 EPS for the current fiscal year.

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.