Citigroup Inc. Sells 443,290 Shares of UiPath Inc. (NYSE:PATH)

Citigroup Inc. decreased its stake in shares of UiPath Inc. (NYSE:PATH - Free Report) by 50.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 427,075 shares of the company's stock after selling 443,290 shares during the period. Citigroup Inc. owned about 0.08% of UiPath worth $5,467,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 47,671 shares of the business's 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 owns 849,917 shares of the company's stock, valued at $10,258,498.19. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PATH shares. Wells Fargo & Company decreased their target price on UiPath from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 23rd. Bank of America boosted 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. Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a research note on Wednesday, October 23rd. Morgan Stanley reiterated an "equal weight" rating and issued a $15.00 target price on shares of UiPath in a research report on Friday, September 6th. Finally, Evercore ISI boosted their price target on shares of UiPath from $13.00 to $16.00 and gave the stock an "in-line" rating in a research report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.47.

UiPath Stock Performance

UiPath stock traded up $0.31 during trading hours on Monday, hitting $14.52. The company had a trading volume of 9,812,212 shares, compared to its average volume of 9,470,585. The firm has a market cap of $7.99 billion, a P/E ratio of -72.60 and a beta of 0.87. The company has a 50-day moving average price of $12.90 and a two-hundred day moving average price of $12.91. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $27.87.

UiPath (NYSE:PATH - Get Free Report) last issued 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. The business had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. UiPath's revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. As a group, equities research analysts anticipate that UiPath Inc. will post -0.23 EPS for the current year.

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.