Daniel Dines Sells 1,402,347 Shares of UiPath (NYSE:PATH) Stock

UiPath, Inc. (NYSE:PATH) CEO Daniel Dines sold 1,402,347 shares of UiPath stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $16.07, for a total transaction of $22,535,716.29. Following the sale, the chief executive officer directly owned 26,491,238 shares of the company’s stock, valued at $425,714,194.66. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

UiPath Stock Up 0.8%

PATH opened at $15.90 on Friday. The stock has a market cap of $8.24 billion, a PE ratio of 26.50, a P/E/G ratio of 1.89 and a beta of 0.96. UiPath, Inc. has a 52 week low of $9.20 and a 52 week high of $19.84. The business’s fifty day simple moving average is $12.37 and its 200 day simple moving average is $11.54.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The business had revenue of $418.38 million for the quarter, compared to the consensus estimate of $397.54 million. During the same quarter last year, the business posted $0.11 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities analysts anticipate that UiPath, Inc. will post 0.4 earnings per share for the current year.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of UiPath by 8.4% during the first quarter. Royal Bank of Canada now owns 140,774 shares of the company’s stock valued at $1,450,000 after purchasing an additional 10,872 shares during the period. Woodline Partners LP raised its stake in shares of UiPath by 69.6% during the first quarter. Woodline Partners LP now owns 22,566 shares of the company’s stock valued at $232,000 after acquiring an additional 9,257 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of UiPath by 5.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,477,730 shares of the company’s stock worth $15,221,000 after purchasing an additional 75,737 shares during the period. Sivia Capital Partners LLC purchased a new position in UiPath during the 2nd quarter valued at about $169,000. Finally, Prudential Financial Inc. grew its position in shares of UiPath by 90.1% in the 2nd quarter. Prudential Financial Inc. now owns 34,029 shares of the company’s stock worth $436,000 after buying an additional 16,125 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PATH shares. Morgan Stanley dropped their target price on UiPath from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, May 29th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of UiPath in a research note on Friday, May 29th. BMO Capital Markets lowered their price objective on shares of UiPath from $14.00 to $13.00 and set a “market perform” rating for the company in a report on Monday, June 1st. DA Davidson cut their price objective on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, May 29th. Finally, Wall Street Zen lowered shares of UiPath from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.87.

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. 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.