Glenmede Trust Co. NA Cuts Position in UiPath Inc. (NYSE:PATH)

Glenmede Trust Co. NA decreased its stake in UiPath Inc. (NYSE:PATH - Free Report) by 76.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.10% of UiPath worth $7,072,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PATH. Advisors Asset Management Inc. lifted its position in shares of UiPath by 35.0% in the first quarter. Advisors Asset Management Inc. now owns 3,037 shares of the company's stock valued at $69,000 after acquiring an additional 787 shares in the last quarter. Lazard Asset Management LLC boosted its stake in UiPath by 16,741.9% during the 1st quarter. Lazard Asset Management LLC now owns 5,221 shares of the company's stock worth $118,000 after purchasing an additional 5,190 shares during the last quarter. Comerica Bank boosted its stake in UiPath by 226.5% during the 1st quarter. Comerica Bank now owns 25,154 shares of the company's stock worth $570,000 after purchasing an additional 17,451 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of UiPath by 315.6% during the first quarter. Cetera Investment Advisers now owns 67,782 shares of the company's stock worth $1,537,000 after buying an additional 51,472 shares in the last quarter. Finally, Cetera Advisors LLC raised its position in shares of UiPath by 93.5% in the first quarter. Cetera Advisors LLC now owns 19,706 shares of the company's stock valued at $447,000 after buying an additional 9,522 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PATH. 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. JPMorgan Chase & Co. lowered their target price on UiPath from $19.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. TD Cowen dropped their price target on UiPath from $17.00 to $16.00 and set a "hold" rating for the company in a research report on Friday, September 6th. Bank of America lifted their price objective on UiPath from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $15.00 target price on shares of UiPath in a report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $17.47.

Insider Buying and Selling

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

UiPath Stock Up 0.9 %

Shares of PATH traded up $0.12 during trading on Friday, reaching $14.21. 4,055,586 shares of the company traded hands, compared to its average volume of 9,469,106. The stock has a 50-day simple moving average of $12.90 and a 200-day simple moving average of $13.02. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87. The stock has a market cap of $7.81 billion, a PE ratio of -71.05 and a beta of 0.87.

UiPath (NYSE:PATH - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (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 for the quarter, compared to analyst estimates of $303.69 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts predict that UiPath Inc. will post -0.23 EPS for the current 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.