Hennion & Walsh Asset Management Inc. Sells 879 Shares of UiPath Inc. (NYSE:PATH)

Hennion & Walsh Asset Management Inc. trimmed its stake in shares of UiPath Inc. (NYSE:PATH) by 2.6% in the third quarter, HoldingsChannel reports. The firm owned 32,579 shares of the healthcare company’s stock after selling 879 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in UiPath were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PATH. Vanguard Group Inc. boosted its holdings in shares of UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after buying an additional 2,133,078 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of UiPath by 0.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 295,370 shares of the healthcare company’s stock worth $6,696,000 after acquiring an additional 1,571 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of UiPath by 3,389.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 89,189 shares of the healthcare company’s stock valued at $1,131,000 after purchasing an additional 86,633 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of UiPath by 4.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 231,694 shares of the healthcare company’s stock worth $5,240,000 after purchasing an additional 9,393 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in UiPath by 245.1% during the 1st quarter. Acadian Asset Management LLC now owns 45,700 shares of the healthcare company’s stock worth $1,032,000 after purchasing an additional 32,456 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PATH has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company lowered their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. DA Davidson boosted their price objective on shares of UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Bank of America raised their target price on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.47.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the sale, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 22.37% of the company’s stock.

UiPath Stock Up 1.0 %

UiPath stock opened at $12.48 on Tuesday. The stock has a market cap of $6.86 billion, a PE ratio of -62.37 and a beta of 0.88. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $27.87. The business’s 50-day moving average price is $12.51 and its two-hundred day moving average price is $13.98.

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