KBC Group NV Decreases Position in UiPath Inc. (NYSE:PATH)

KBC Group NV reduced its position in shares of UiPath Inc. (NYSE:PATH) by 54.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,436 shares of the healthcare company’s stock after selling 23,158 shares during the period. KBC Group NV’s holdings in UiPath were worth $249,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Global Financial Private Client LLC raised its stake in UiPath by 9.3% in the 1st quarter. Global Financial Private Client LLC now owns 6,471 shares of the healthcare company’s stock valued at $144,000 after purchasing an additional 551 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of UiPath by 35.0% in the first quarter. Advisors Asset Management Inc. now owns 3,037 shares of the healthcare company’s stock worth $69,000 after buying an additional 787 shares in the last quarter. Cowa LLC boosted its position 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 acquiring an additional 1,118 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in UiPath by 6.8% in the 3rd 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. Finally, Amalgamated Bank lifted its stake in UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the healthcare company’s stock worth $350,000 after purchasing an additional 1,811 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PATH shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a report on Friday, September 6th. DA Davidson lifted their price target on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Evercore ISI upped their price objective on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets increased their price target on shares of UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, UiPath presently has a consensus rating of “Hold” and a consensus price target of $17.47.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction on Friday, September 13th. The shares were 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 owns 849,917 shares in the company, valued at approximately $10,258,498.19. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 22.37% of the company’s stock.

UiPath Stock Up 1.9 %

Shares of PATH opened at $12.76 on Wednesday. The company has a market cap of $7.01 billion, a P/E ratio of -63.77 and a beta of 0.87. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The firm’s 50 day moving average price is $12.63 and its 200 day moving average price is $13.25.

UiPath (NYSE:PATH) last announced its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. During the same period last year, the firm earned ($0.09) earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts forecast that UiPath Inc. will post -0.23 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.