Swiss National Bank Trims Stake in UiPath Inc. (NYSE:PATH)

Swiss National Bank cut its position in shares of UiPath Inc. (NYSE:PATH) by 33.1% in the third quarter, Holdings Channel.com reports. The firm owned 863,200 shares of the company’s stock after selling 427,600 shares during the quarter. Swiss National Bank’s holdings in UiPath were worth $11,049,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in UiPath in the third quarter worth $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in UiPath in the 3rd quarter worth about $26,000. Hantz Financial Services Inc. bought a new stake in UiPath during the 2nd quarter valued at about $28,000. Redwood Wealth Management Group LLC purchased a new stake in UiPath in the 2nd quarter valued at about $43,000. Finally, Allspring Global Investments Holdings LLC grew its stake in UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after acquiring an additional 2,274 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

UiPath Trading Up 4.1 %

Shares of PATH opened at $14.24 on Monday. The firm has a market cap of $7.83 billion, a PE ratio of -71.20 and a beta of 0.87. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The stock has a fifty day moving average price of $12.71 and a 200-day moving average price of $13.11.

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

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the sale, the chief financial officer now owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. The trade was a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PATH has been the subject of several research analyst reports. Bank of America lifted their price target 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, September 6th. Evercore ISI raised their price target on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of UiPath in a research note on Friday, September 6th. Finally, Wells Fargo & Company cut their target price 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. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, UiPath has a consensus rating of “Hold” and an average target price of $17.47.

UiPath 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.