Stanley Laman Group Ltd. Sells 14,925 Shares of UiPath Inc. (NYSE:PATH)

Stanley Laman Group Ltd. cut its holdings in UiPath Inc. (NYSE:PATH) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,462 shares of the healthcare company’s stock after selling 14,925 shares during the quarter. UiPath makes up approximately 1.3% of Stanley Laman Group Ltd.’s holdings, making the stock its 13th largest holding. Stanley Laman Group Ltd.’s holdings in UiPath were worth $8,333,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PATH. State of New Jersey Common Pension Fund D lifted its holdings in shares of UiPath by 3.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 231,613 shares of the healthcare company’s stock valued at $5,753,000 after purchasing an additional 7,918 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of UiPath during the fourth quarter valued at approximately $36,000. New York State Common Retirement Fund lifted its holdings in shares of UiPath by 19.0% during the fourth quarter. New York State Common Retirement Fund now owns 363,056 shares of the healthcare company’s stock valued at $9,018,000 after purchasing an additional 58,064 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of UiPath by 13.9% during the fourth quarter. California Public Employees Retirement System now owns 641,825 shares of the healthcare company’s stock valued at $15,943,000 after purchasing an additional 78,459 shares during the last quarter. Finally, Sigma Planning Corp purchased a new position in shares of UiPath during the fourth quarter valued at approximately $809,000. 62.50% of the stock is owned by institutional investors.

Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.84, for a total value of $365,440.00. Following the transaction, the chief financial officer now directly owns 87,505 shares of the company’s stock, valued at approximately $1,998,614.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 72,000 shares of company stock valued at $1,591,360. Insiders own 31.03% of the company’s stock.

UiPath Price Performance

Shares of PATH stock traded down $0.29 during trading hours on Thursday, hitting $19.42. The company had a trading volume of 5,227,271 shares, compared to its average volume of 8,752,624. The company’s fifty day moving average is $22.30 and its 200 day moving average is $21.53. UiPath Inc. has a fifty-two week low of $12.38 and a fifty-two week high of $27.87. The stock has a market capitalization of $11.05 billion, a PE ratio of -114.20 and a beta of 0.96.

UiPath (NYSE:PATH) last released its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. The company had revenue of $405.25 million for the quarter, compared to analyst estimates of $383.32 million. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. Equities analysts forecast that UiPath Inc. will post -0.04 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. BMO Capital Markets lifted their target price on shares of UiPath from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. Barclays boosted their price objective on shares of UiPath from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 15th. Scotiabank boosted their price objective on shares of UiPath from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Thursday, March 14th. TD Cowen boosted their price objective on shares of UiPath from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. upgraded shares of UiPath from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $22.00 to $28.00 in a report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, UiPath has a consensus rating of “Moderate Buy” and a consensus price target of $27.41.

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.