Glenmede Trust Co. NA Sells 1,838,981 Shares of UiPath Inc. (NYSE:PATH)

Glenmede Trust Co. NA trimmed its stake in shares of UiPath Inc. (NYSE:PATH) by 76.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 552,463 shares of the company’s stock after selling 1,838,981 shares during the quarter. Glenmede Trust Co. NA owned about 0.10% of UiPath worth $7,072,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PATH. Advisors Asset Management Inc. raised its position in 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. Lazard Asset Management LLC boosted its stake in UiPath by 16,741.9% in 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 in the last quarter. Comerica Bank grew its position in UiPath by 226.5% in the first quarter. Comerica Bank now owns 25,154 shares of the company’s stock valued at $570,000 after acquiring an additional 17,451 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of UiPath by 315.6% in the 1st quarter. Cetera Investment Advisers now owns 67,782 shares of the company’s stock valued at $1,537,000 after purchasing an additional 51,472 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in UiPath by 93.5% during the 1st quarter. Cetera Advisors LLC now owns 19,706 shares of the company’s stock worth $447,000 after purchasing an additional 9,522 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at UiPath

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

UiPath Stock Up 0.9 %

Shares of PATH stock opened at $14.21 on Friday. The company has a market cap of $7.81 billion, a price-to-earnings ratio of -71.05 and a beta of 0.87. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The firm has a 50 day moving average of $12.86 and a 200-day moving average of $13.06.

UiPath (NYSE:PATH) last released its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same period in the prior year, the firm earned ($0.09) EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Analysts anticipate that UiPath Inc. will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PATH. JPMorgan Chase & Co. decreased their target price on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI increased their target price on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. DA Davidson boosted their price target on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. BMO Capital Markets raised their price objective 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research report on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, UiPath has a consensus rating of “Hold” and an average target price of $17.47.

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.