UiPath Inc. (NYSE:PATH) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its position in shares of UiPath Inc. (NYSE:PATH) by 16.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 649,447 shares of the healthcare company’s stock after selling 130,489 shares during the period. UiPath makes up about 0.5% of Summit Trail Advisors LLC’s holdings, making the stock its 29th biggest holding. Summit Trail Advisors LLC owned 0.11% of UiPath worth $16,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PATH. Vanguard Group Inc. raised its stake in shares of UiPath by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock valued at $645,916,000 after purchasing an additional 2,673,718 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of UiPath by 3,273.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,564,985 shares of the healthcare company’s stock valued at $26,777,000 after purchasing an additional 1,518,592 shares in the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in shares of UiPath in the 4th quarter valued at about $15,543,000. FMR LLC grew its position in shares of UiPath by 2.9% during the 3rd quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after buying an additional 463,032 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of UiPath by 179.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 715,688 shares of the healthcare company’s stock valued at $12,245,000 after buying an additional 459,965 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $21.66, for a total value of $866,400.00. Following the transaction, the chief financial officer now owns 660,762 shares of the company’s stock, valued at $14,312,104.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 31.03% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PATH shares. JPMorgan Chase & Co. raised shares of UiPath from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $22.00 to $28.00 in a research report on Thursday, March 14th. BMO Capital Markets upped their target price on shares of UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, March 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of UiPath in a research report on Monday, April 1st. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of UiPath in a research report on Wednesday, March 20th. Finally, KeyCorp assumed coverage on shares of UiPath in a research report on Monday, April 8th. They issued an “overweight” rating and a $27.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, UiPath has an average rating of “Moderate Buy” and an average target price of $27.41.

UiPath Stock Down 0.1 %

Shares of PATH stock traded down $0.02 during mid-day trading on Tuesday, reaching $19.83. The stock had a trading volume of 1,123,984 shares, compared to its average volume of 8,333,569. The firm’s 50 day simple moving average is $21.75 and its 200 day simple moving average is $21.72. UiPath Inc. has a one year low of $12.89 and a one year high of $27.87. The firm has a market cap of $11.28 billion, a PE ratio of -116.70 and a beta of 1.01.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $405.25 million for the quarter, compared to analyst estimates of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. Sell-side analysts forecast that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

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.