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

Swiss National Bank decreased its stake in shares of UiPath Inc. (NYSE:PATH - Free Report) by 33.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 863,200 shares of the company's stock after selling 427,600 shares during the period. Swiss National Bank owned approximately 0.16% of UiPath worth $11,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PATH. Future Financial Wealth Managment LLC bought a new stake in shares of UiPath during the 3rd quarter valued at $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in UiPath during the third quarter worth about $26,000. Hantz Financial Services Inc. purchased a new stake in UiPath in the second quarter worth about $28,000. Redwood Wealth Management Group LLC purchased a new position in shares of UiPath during the second quarter valued at approximately $43,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 2,274 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Morgan Stanley reissued an "equal weight" rating and issued a $15.00 target price on shares of UiPath in a report on Friday, September 6th. Bank of America raised their price objective 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. BMO Capital Markets upped their target price on shares of UiPath from $14.00 to $15.00 and gave the stock a "market perform" rating in a research note on Friday, September 6th. Wells Fargo & Company decreased their price objective on shares of UiPath from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $16.00 target price on shares of UiPath in a report on Friday, September 6th. Sixteen research 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, the stock presently has an average rating of "Hold" and an average target price of $17.47.

UiPath Stock Performance

Shares of NYSE PATH traded up $0.27 during trading on Monday, hitting $14.51. The company had a trading volume of 11,428,863 shares, compared to its average volume of 9,522,446. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The firm has a market capitalization of $7.98 billion, a P/E ratio of -73.90 and a beta of 0.87. The stock has a 50 day simple moving average of $12.71 and a 200 day simple moving average of $13.11.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, topping 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 net margin of 8.13% and a negative return on equity of 3.98%. The company's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. As a group, analysts predict that UiPath Inc. will post -0.23 EPS for the current year.

Insider Activity at UiPath

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 transaction of $575,388.97. Following the sale, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. This represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.37% of the stock is owned by corporate insiders.

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.