UiPath Inc. (NYSE:PATH) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC decreased its stake in UiPath Inc. (NYSE:PATH) by 18.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,253 shares of the healthcare company’s stock after selling 6,093 shares during the period. SteelPeak Wealth LLC’s holdings in UiPath were worth $349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in UiPath by 15.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 30,479 shares of the healthcare company’s stock valued at $691,000 after acquiring an additional 4,039 shares in the last quarter. Diversified Trust Co purchased a new position in UiPath during the 1st quarter valued at about $553,000. Allspring Global Investments Holdings LLC increased its holdings in UiPath by 819.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,209 shares of the healthcare company’s stock valued at $435,000 after acquiring an additional 17,120 shares in the last quarter. Kovack Advisors Inc. purchased a new position in UiPath during the 1st quarter valued at about $220,000. Finally, Principal Financial Group Inc. grew its holdings in shares of UiPath by 1.7% during the first quarter. Principal Financial Group Inc. now owns 36,772 shares of the healthcare company’s stock worth $834,000 after buying an additional 622 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Price Performance

Shares of NYSE:PATH opened at $12.36 on Friday. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $27.87. The company’s fifty day moving average is $12.53 and its two-hundred day moving average is $13.91.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $316.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) earnings per share. Equities analysts predict that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the 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 sale, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Barclays lifted their price target on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. decreased their target price on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. TD Cowen decreased their target price on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Finally, Bank of America upped their target price on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.47.

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.