UiPath Inc. (NYSE:PATH) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its stake in shares of UiPath Inc. (NYSE:PATH) by 67.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,863 shares of the healthcare company’s stock after selling 20,296 shares during the period. Quest Partners LLC’s holdings in UiPath were worth $125,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors 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. Norges Bank acquired a new stake in UiPath in the 4th quarter valued at $165,749,000. Bank of New York Mellon Corp increased its holdings in UiPath by 20.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the healthcare company’s stock worth $32,371,000 after acquiring an additional 439,344 shares in the last quarter. Dimensional Fund Advisors LP raised its position in UiPath by 11.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,232,060 shares of the healthcare company’s stock worth $55,454,000 after acquiring an additional 232,700 shares during the period. Finally, Artisan Partners Limited Partnership purchased a new position in UiPath during the fourth quarter valued at $48,267,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PATH. 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 research note on Friday, September 6th. Wells Fargo & Company raised their target price on UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Truist Financial reiterated a “hold” rating and set a $14.00 price target (down from $32.00) on shares of UiPath in a research report on Thursday, May 30th. BMO Capital Markets raised their price target 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. Finally, Mizuho reduced their price objective on UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Sixteen equities research 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 price target of $17.71.

UiPath Stock Down 0.2 %

Shares of PATH opened at $12.48 on Tuesday. The stock has a 50 day moving average price of $12.11 and a 200 day moving average price of $16.14. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of -78.00 and a beta of 0.87. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $316.00 million for the quarter, compared to the consensus estimate of $303.69 million. During the same quarter last year, the business posted ($0.09) EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that UiPath Inc. will post -0.23 EPS for the current fiscal 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.