Coatue Management LLC Sells 1,214,932 Shares of UiPath Inc. (NYSE:PATH)

Coatue Management LLC cut its holdings in UiPath Inc. (NYSE:PATHFree Report) by 35.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,255,011 shares of the healthcare company’s stock after selling 1,214,932 shares during the period. Coatue Management LLC owned 0.40% of UiPath worth $56,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PATH. Royal London Asset Management Ltd. lifted its position in UiPath by 5.9% during the third quarter. Royal London Asset Management Ltd. now owns 139,544 shares of the healthcare company’s stock valued at $2,388,000 after purchasing an additional 7,742 shares in the last quarter. Swiss National Bank grew its stake in shares of UiPath by 4.9% during the 4th quarter. Swiss National Bank now owns 1,211,500 shares of the healthcare company’s stock valued at $30,094,000 after acquiring an additional 56,600 shares during the period. Vestmark Advisory Solutions Inc. purchased a new stake in UiPath in the 4th quarter worth approximately $15,543,000. O Shaughnessy Asset Management LLC purchased a new position in UiPath during the third quarter valued at approximately $203,000. Finally, Invesco Ltd. boosted its position in shares of UiPath by 2.8% in the third quarter. Invesco Ltd. now owns 399,181 shares of the healthcare company’s stock worth $6,830,000 after purchasing an additional 10,863 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Stock Performance

UiPath stock remained flat at $11.81 during midday trading on Wednesday. 14,351,893 shares of the company were exchanged, compared to its average volume of 9,768,393. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of -73.81 and a beta of 0.85. UiPath Inc. has a 12 month low of $11.53 and a 12 month high of $27.87. The stock has a 50-day simple moving average of $18.24 and a two-hundred day simple moving average of $21.70.

UiPath (NYSE:PATHGet Free Report) last issued its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.10. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The firm had revenue of $405.25 million for the quarter, compared to the consensus estimate of $383.32 million. On average, equities analysts forecast that UiPath Inc. will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PATH. Wells Fargo & Company dropped their price objective on UiPath from $25.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Mizuho cut their price objective on shares of UiPath from $25.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Scotiabank lowered their target price on shares of UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 29th. Evercore ISI cut their target price on shares of UiPath from $27.00 to $13.00 and set an “in-line” rating for the company in a research note on Thursday, May 30th. Finally, Morgan Stanley decreased their price target on shares of UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, UiPath has a consensus rating of “Hold” and a consensus price target of $18.12.

Read Our Latest Research Report on UiPath

Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the company’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 completion of the sale, the chief financial officer now directly owns 660,762 shares in the company, valued at approximately $14,312,104.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 96,000 shares of company stock valued at $2,023,440 in the last quarter. 22.37% of the stock is owned by insiders.

About UiPath

(Free Report)

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.

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Institutional Ownership by Quarter for UiPath (NYSE:PATH)

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