Victory Capital Management Inc. Reduces Stake in UiPath Inc. (NYSE:PATH)

Victory Capital Management Inc. cut its stake in shares of UiPath Inc. (NYSE:PATH) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,126 shares of the company’s stock after selling 3,404 shares during the period. Victory Capital Management Inc.’s holdings in UiPath were worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of UiPath by 164.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 95,469 shares of the company’s stock worth $1,222,000 after purchasing an additional 59,435 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of UiPath by 3,389.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 89,189 shares of the company’s stock valued at $1,131,000 after buying an additional 86,633 shares during the period. Armistice Capital LLC boosted its position in shares of UiPath by 94.9% during the second quarter. Armistice Capital LLC now owns 726,520 shares of the company’s stock valued at $9,212,000 after buying an additional 353,781 shares during the period. Pallas Capital Advisors LLC bought a new position in shares of UiPath during the third quarter valued at approximately $729,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of UiPath by 15.2% in the second quarter. Canada Pension Plan Investment Board now owns 581,900 shares of the company’s stock worth $7,378,000 after buying an additional 76,800 shares during the period. 62.50% of the stock is owned by institutional investors.

UiPath Price Performance

PATH opened at $14.09 on Friday. The firm has a market capitalization of $7.75 billion, a PE ratio of -70.45 and a beta of 0.87. The business’s 50-day moving average is $12.83 and its two-hundred day moving average is $13.05. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $27.87.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.04 EPS 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 analyst estimates of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. UiPath’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS. As a group, sell-side analysts expect that UiPath Inc. will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the transaction, the chief financial officer now 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PATH shares. Evercore ISI upped their price objective on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. cut their price target on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Barclays lifted their price objective on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a report 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. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $15.00 price target on shares of UiPath in a research note on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.