Swiss National Bank Lowers Holdings in UiPath Inc. (NYSE:PATH)

Swiss National Bank reduced its stake in UiPath Inc. (NYSE:PATH) by 33.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 863,200 shares of the company’s stock after selling 427,600 shares during the period. Swiss National Bank owned approximately 0.16% of UiPath worth $11,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PATH. Russell Investments Group Ltd. grew its holdings in shares of UiPath by 96.6% during the first quarter. Russell Investments Group Ltd. now owns 75,851 shares of the company’s stock valued at $1,720,000 after buying an additional 37,267 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of UiPath by 11.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,848 shares of the company’s stock worth $427,000 after purchasing an additional 1,982 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of UiPath by 111.5% in the first quarter. UniSuper Management Pty Ltd now owns 5,500 shares of the company’s stock worth $125,000 after purchasing an additional 2,900 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of UiPath by 35.0% during the first quarter. Advisors Asset Management Inc. now owns 3,037 shares of the company’s stock valued at $69,000 after purchasing an additional 787 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of UiPath by 16,741.9% during the first quarter. Lazard Asset Management LLC now owns 5,221 shares of the company’s stock valued at $118,000 after buying an additional 5,190 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Insider Activity 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 shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the transaction, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America boosted their target price on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Morgan Stanley restated an “equal weight” rating and set a $15.00 price objective on shares of UiPath in a research report on Friday, September 6th. DA Davidson lifted their target price on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Sixteen analysts have rated the stock with 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 a consensus target price of $17.47.

UiPath Price Performance

Shares of NYSE:PATH opened at $14.24 on Monday. The firm’s 50 day simple moving average is $12.71 and its two-hundred day simple moving average is $13.11. The company has a market capitalization of $7.83 billion, a P/E ratio of -71.20 and a beta of 0.87. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $27.87.

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