Entropy Technologies LP Sells 64,719 Shares of UiPath Inc. (NYSE:PATH)

Entropy Technologies LP cut its stake in shares of UiPath Inc. (NYSE:PATH) by 33.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 128,578 shares of the healthcare company’s stock after selling 64,719 shares during the quarter. Entropy Technologies LP’s holdings in UiPath were worth $1,646,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of UiPath by 819.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 19,209 shares of the healthcare company’s stock valued at $435,000 after acquiring an additional 17,120 shares in the last quarter. Empowered Funds LLC lifted its position in shares of UiPath by 10.5% in the 1st quarter. Empowered Funds LLC now owns 10,856 shares of the healthcare company’s stock worth $246,000 after purchasing an additional 1,033 shares during the period. Sei Investments Co. boosted its stake in shares of UiPath by 51.7% during the first quarter. Sei Investments Co. now owns 69,016 shares of the healthcare company’s stock valued at $1,565,000 after purchasing an additional 23,529 shares in the last quarter. Qsemble Capital Management LP purchased a new position in UiPath during the first quarter valued at approximately $253,000. Finally, Russell Investments Group Ltd. raised its stake in UiPath by 96.6% in the first quarter. Russell Investments Group Ltd. now owns 75,851 shares of the healthcare company’s stock worth $1,720,000 after buying an additional 37,267 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PATH. TD Cowen cut their price target on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. reduced their target price on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets raised their price target on shares of UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Wells Fargo & Company reduced their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, Barclays raised their target price on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.47.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the transaction, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.37% of the company’s stock.

UiPath Stock Down 3.8 %

UiPath stock opened at $13.36 on Wednesday. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The stock has a 50-day moving average price of $12.59 and a 200 day moving average price of $13.48.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The firm had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that UiPath Inc. will post -0.23 EPS 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.