HighTower Advisors LLC Sells 67,672 Shares of UiPath, Inc. $PATH

HighTower Advisors LLC decreased its position in shares of UiPath, Inc. (NYSE:PATH) by 61.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,813 shares of the company’s stock after selling 67,672 shares during the period. HighTower Advisors LLC’s holdings in UiPath were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. DNB Asset Management AS lifted its holdings in shares of UiPath by 266.4% during the 4th quarter. DNB Asset Management AS now owns 565,799 shares of the company’s stock valued at $9,273,000 after purchasing an additional 411,395 shares during the last quarter. First Trust Advisors LP grew its stake in UiPath by 48.7% during the 1st quarter. First Trust Advisors LP now owns 1,624,148 shares of the company’s stock worth $18,028,000 after buying an additional 532,157 shares during the last quarter. State of Michigan Retirement System purchased a new position in UiPath during the 1st quarter worth $1,143,000. SummitTX Capital L.P. acquired a new position in UiPath during the 1st quarter valued at about $1,948,000. Finally, Empowered Funds LLC increased its position in UiPath by 39.4% during the 1st quarter. Empowered Funds LLC now owns 254,830 shares of the company’s stock valued at $2,829,000 after buying an additional 71,990 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Bank of America increased their price target on UiPath from $12.00 to $13.00 and gave the company an “underperform” rating in a research note on Friday, May 29th. Wall Street Zen lowered UiPath from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. UBS Group cut their price objective on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. DA Davidson decreased their price objective on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, May 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of UiPath in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.87.

UiPath Price Performance

Shares of PATH stock opened at $16.03 on Friday. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The business has a fifty day moving average of $11.97 and a 200 day moving average of $11.50. UiPath, Inc. has a 1 year low of $9.20 and a 1 year high of $19.84.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. The company had revenue of $418.38 million during the quarter, compared to analysts’ expectations of $397.54 million. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. As a group, equities research analysts expect that UiPath, Inc. will post 0.4 earnings per share for the current year.

UiPath Company Profile

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.