Entropy Technologies LP Lowers Holdings in UiPath Inc. (NYSE:PATH)

Entropy Technologies LP decreased its holdings in UiPath Inc. (NYSE:PATH) by 46.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 58,941 shares of the healthcare company’s stock after selling 51,672 shares during the period. Entropy Technologies LP’s holdings in UiPath were worth $1,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank grew its holdings in UiPath by 4.9% in the 4th quarter. Swiss National Bank now owns 1,211,500 shares of the healthcare company’s stock valued at $30,094,000 after buying an additional 56,600 shares during the period. Vestmark Advisory Solutions Inc. purchased a new stake in shares of UiPath during the 4th quarter worth about $15,543,000. California Public Employees Retirement System grew its holdings in shares of UiPath by 13.9% during the 4th quarter. California Public Employees Retirement System now owns 641,825 shares of the healthcare company’s stock worth $15,943,000 after purchasing an additional 78,459 shares during the period. International Assets Investment Management LLC grew its holdings in shares of UiPath by 1,649.1% during the 4th quarter. International Assets Investment Management LLC now owns 177,358 shares of the healthcare company’s stock worth $4,406,000 after purchasing an additional 167,218 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in shares of UiPath by 38.4% during the 4th quarter. Neuberger Berman Group LLC now owns 20,133 shares of the healthcare company’s stock worth $500,000 after purchasing an additional 5,586 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PATH. DA Davidson decreased their target price on UiPath from $24.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Thursday, May 30th. Truist Financial reissued a “hold” rating and set a $14.00 price target (down from $32.00) on shares of UiPath in a research report on Thursday, May 30th. Barclays reduced their price target on UiPath from $25.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Finally, Morgan Stanley reduced their price target on UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, UiPath currently has an average rating of “Hold” and a consensus target price of $18.06.

UiPath Stock Performance

Shares of PATH traded up $0.10 during trading on Thursday, reaching $12.67. The company’s stock had a trading volume of 963,495 shares, compared to its average volume of 9,918,692. The company has a fifty day moving average of $14.40 and a two-hundred day moving average of $19.62. UiPath Inc. has a twelve month low of $11.07 and a twelve month high of $27.87.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $335.11 million for the quarter, compared to analyst estimates of $332.84 million. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. Analysts forecast that UiPath Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $19.79, for a total transaction of $791,600.00. Following the sale, the chief financial officer now directly owns 946,848 shares of the company’s stock, valued at approximately $18,738,121.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.37% of the company’s stock.

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.