Sumitomo Mitsui Trust Group Inc. Has $181.37 Million Stock Holdings in UiPath Inc. (NYSE:PATH)

Sumitomo Mitsui Trust Group Inc. cut its stake in UiPath Inc. (NYSE:PATH - Free Report) by 23.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,169,736 shares of the healthcare company's stock after selling 4,278,571 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 2.58% of UiPath worth $181,373,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in UiPath by 5.6% in the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company's stock valued at $911,741,000 after purchasing an additional 2,133,078 shares during the period. Pacer Advisors Inc. purchased a new stake in UiPath during the 2nd quarter valued at about $69,180,000. Dimensional Fund Advisors LP increased its holdings in shares of UiPath by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company's stock valued at $35,296,000 after purchasing an additional 754,519 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in UiPath by 20.8% during the second quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the healthcare company's stock worth $32,371,000 after buying an additional 439,344 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of UiPath by 120.6% in the second quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company's stock valued at $20,385,000 after purchasing an additional 892,845 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ashim Gupta sold 47,671 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.37% of the company's stock.

UiPath Stock Up 1.2 %

Shares of PATH traded up $0.16 during trading hours on Wednesday, hitting $13.52. The stock had a trading volume of 8,510,595 shares, compared to its average volume of 9,506,336. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The company's fifty day moving average is $12.59 and its two-hundred day moving average is $13.48.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $316.00 million during the quarter, compared to analysts' expectations of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. Equities research analysts anticipate that UiPath Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. DA Davidson raised their price objective on UiPath from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. reduced their price target on shares of UiPath from $19.00 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Barclays boosted their target price on UiPath from $14.00 to $15.00 and gave the company an "equal weight" rating in a report on Friday, September 6th. Finally, Morgan Stanley restated an "equal weight" rating and set a $15.00 target price on shares of UiPath in a research report on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, UiPath presently has an average 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.