Cetera Investment Advisers Grows Holdings in UiPath, Inc. (NYSE:PATH)

Cetera Investment Advisers grew its stake in UiPath, Inc. (NYSE:PATH) by 2.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 74,696 shares of the company’s stock after buying an additional 1,652 shares during the quarter. Cetera Investment Advisers’ holdings in UiPath were worth $769,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PATH. Wells Fargo & Company MN grew its stake in UiPath by 58.7% in the 4th quarter. Wells Fargo & Company MN now owns 545,166 shares of the company’s stock worth $6,929,000 after buying an additional 201,645 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of UiPath by 10.5% in the 4th quarter. Invesco Ltd. now owns 382,800 shares of the company’s stock worth $4,865,000 after acquiring an additional 36,332 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of UiPath in the 4th quarter worth approximately $5,506,000. Guggenheim Capital LLC bought a new stake in shares of UiPath in the 4th quarter worth approximately $269,000. Finally, United Capital Financial Advisors LLC lifted its holdings in shares of UiPath by 8.6% in the 4th quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company’s stock worth $156,000 after acquiring an additional 971 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada upped their price target on shares of UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Friday, May 30th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Friday, May 30th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of UiPath in a research report on Friday, May 30th. Morgan Stanley upped their target price on shares of UiPath from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 2nd. Finally, Canaccord Genuity Group set a $16.00 target price on shares of UiPath and gave the stock a “buy” rating in a research report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.83.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 56,322 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.72, for a total value of $716,415.84. Following the completion of the transaction, the chief financial officer directly owned 859,991 shares of the company’s stock, valued at approximately $10,939,085.52. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Dines sold 45,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $12.43, for a total transaction of $559,350.00. Following the transaction, the chief executive officer owned 5,058,376 shares in the company, valued at $62,875,613.68. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 831,310 shares of company stock valued at $10,428,922. 23.19% of the stock is currently owned by insiders.

UiPath Trading Down 2.5%

Shares of PATH stock opened at $10.72 on Friday. The stock has a market capitalization of $5.73 billion, a P/E ratio of -89.29, a P/E/G ratio of 14.40 and a beta of 1.03. The firm’s 50 day moving average is $12.26 and its 200 day moving average is $12.22. UiPath, Inc. has a 12-month low of $9.38 and a 12-month high of $15.93.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The firm had revenue of $356.62 million for the quarter, compared to analysts’ expectations of $332.17 million. During the same quarter last year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts predict that UiPath, Inc. will post -0.17 earnings per share for the current 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.