Rakuten Securities Inc. Has $44,000 Stake in UiPath Inc. (NYSE:PATH)

Rakuten Securities Inc. cut its stake in shares of UiPath Inc. (NYSE:PATH) by 66.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,461 shares of the healthcare company’s stock after selling 6,848 shares during the quarter. Rakuten Securities Inc.’s holdings in UiPath were worth $44,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PATH. Nations Financial Group Inc. IA ADV boosted its holdings in UiPath by 6.8% in the third quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the healthcare company’s stock valued at $334,000 after acquiring an additional 1,654 shares during the last quarter. Versor Investments LP bought a new stake in shares of UiPath in the 3rd quarter valued at $266,000. State of New Jersey Common Pension Fund D increased its position in shares of UiPath by 7.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 179,083 shares of the healthcare company’s stock worth $2,292,000 after buying an additional 11,810 shares during the period. River Global Investors LLP increased its position in shares of UiPath by 4.1% during the third quarter. River Global Investors LLP now owns 165,582 shares of the healthcare company’s stock worth $2,119,000 after buying an additional 6,486 shares during the period. Finally, Cowa LLC raised its stake in UiPath by 4.4% during the third quarter. Cowa LLC now owns 26,681 shares of the healthcare company’s stock worth $342,000 after buying an additional 1,118 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PATH shares. JPMorgan Chase & Co. decreased their price target on UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price target on shares of UiPath in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their target price on shares of UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Finally, Evercore ISI raised their price target on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.47.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the sale, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 22.37% of the company’s stock.

UiPath Trading Down 3.8 %

Shares of PATH stock opened at $13.36 on Wednesday. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The stock has a market capitalization of $7.35 billion, a P/E ratio of -66.80 and a beta of 0.87. The firm’s 50 day moving average is $12.59 and its 200 day moving average is $13.48.

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

UiPath 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.