Victory Capital Management Inc. Sells 58,414 Shares of UiPath Inc. (NYSE:PATH)

Victory Capital Management Inc. trimmed its holdings in UiPath Inc. (NYSE:PATH) by 50.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 56,530 shares of the healthcare company’s stock after selling 58,414 shares during the quarter. Victory Capital Management Inc.’s holdings in UiPath were worth $717,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PATH. Dimensional Fund Advisors LP grew its stake in shares of UiPath by 11.6% in 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. Avantax Advisory Services Inc. grew its position in UiPath by 7.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,293 shares of the healthcare company’s stock worth $305,000 after purchasing an additional 811 shares during the period. Janney Montgomery Scott LLC bought a new stake in UiPath in the 4th quarter worth approximately $1,744,000. Panagora Asset Management Inc. purchased a new stake in UiPath during the 4th quarter valued at $291,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of UiPath during the 4th quarter valued at $449,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Stock Up 0.3 %

NYSE PATH opened at $12.49 on Friday. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87. The business has a 50-day moving average price of $12.12 and a 200-day moving average price of $15.93. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of -78.06 and a beta of 0.87.

UiPath (NYSE:PATH) last posted its quarterly earnings results 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 business had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) EPS. Research analysts expect that UiPath Inc. will post -0.23 EPS for the current fiscal year.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction on 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 owns 849,917 shares in the company, valued at approximately $10,258,498.19. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America lifted their price objective on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Evercore ISI upped their price target on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Friday, September 6th. Truist Financial restated a “hold” rating and set a $14.00 target price (down from $32.00) on shares of UiPath in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of UiPath from $28.00 to $19.00 and set an “overweight” 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.71.

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.