Summit Trail Advisors LLC Sells 162,164 Shares of UiPath Inc. (NYSE:PATH)

Summit Trail Advisors LLC lowered its position in UiPath Inc. (NYSE:PATH) by 29.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 385,328 shares of the healthcare company’s stock after selling 162,164 shares during the period. Summit Trail Advisors LLC owned 0.07% of UiPath worth $4,886,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PATH. Sei Investments Co. lifted its holdings in shares of UiPath by 13.8% in the 2nd quarter. Sei Investments Co. now owns 78,531 shares of the healthcare company’s stock worth $996,000 after purchasing an additional 9,515 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of UiPath in the second quarter valued at $69,180,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of UiPath by 3.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 154,036 shares of the healthcare company’s stock valued at $1,953,000 after buying an additional 4,500 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of UiPath by 15.2% during the second quarter. Canada Pension Plan Investment Board now owns 581,900 shares of the healthcare company’s stock worth $7,378,000 after acquiring an additional 76,800 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of UiPath by 3,389.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 89,189 shares of the healthcare company’s stock worth $1,131,000 after acquiring an additional 86,633 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Up 0.3 %

UiPath stock opened at $12.49 on Friday. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of -78.06 and a beta of 0.87. The business has a 50-day simple moving average of $12.13 and a 200 day simple moving average of $16.01. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business had revenue of $316.00 million for the quarter, compared to the consensus estimate of $303.69 million. During the same period last year, the firm posted ($0.09) earnings per share. UiPath’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts anticipate that UiPath Inc. will post -0.23 earnings per share for the current year.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the transaction, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at $10,258,498.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PATH shares. DA Davidson lifted their price target on UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Scotiabank decreased their price target on UiPath from $30.00 to $25.00 and set a “sector perform” rating for the company in a report on Wednesday, May 29th. JPMorgan Chase & Co. dropped their price objective on UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Barclays upped their target price on shares of UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company upped their price objective on shares of UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.71.

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.