Victory Capital Management Inc. Sells 951 Shares of UiPath Inc. (NYSE:PATH)

Posted by Defense World Staff on Nov 3rd, 2023

Victory Capital Management Inc. lessened its holdings in shares of UiPath Inc. (NYSE:PATH – Free Report) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,686 shares of the healthcare company’s stock after selling 951 shares during the quarter. Victory Capital Management Inc.’s holdings in UiPath were worth $674,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of UiPath in the 1st quarter worth $27,000. Manchester Capital Management LLC purchased a new stake in UiPath during the 1st quarter valued at about $31,000. Quarry LP purchased a new stake in shares of UiPath in the first quarter worth about $36,000. Harvest Fund Management Co. Ltd purchased a new position in UiPath during the first quarter worth approximately $44,000. Finally, International Assets Investment Management LLC acquired a new position in shares of UiPath during the first quarter valued at approximately $46,000. Institutional investors own 59.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PATH shares. Macquarie increased their price target on UiPath from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, September 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price target on shares of UiPath in a report on Thursday, September 28th. BMO Capital Markets lifted their target price on UiPath from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Thursday, September 7th. Mizuho boosted their price target on UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, September 7th. Finally, Bank of America boosted their price target on UiPath from $20.00 to $22.00 in a research report on Thursday, September 7th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, UiPath has a consensus rating of “Hold” and a consensus price target of $19.84.

Read Our Latest Analysis on UiPath

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $15.52, for a total transaction of $620,800.00. Following the completion of the sale, the chief financial officer now directly owns 1,344,047 shares in the company, valued at $20,859,609.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $15.52, for a total value of $620,800.00. Following the completion of the transaction, the chief financial officer now directly owns 1,344,047 shares in the company, valued at $20,859,609.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rich Wong sold 100,000 shares of UiPath stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $16.38, for a total value of $1,638,000.00. Following the completion of the transaction, the director now owns 779,693 shares of the company’s stock, valued at $12,771,371.34. The disclosure for this sale can be found here. Insiders sold 220,000 shares of company stock worth $3,598,000 over the last ninety days. Corporate insiders own 31.03% of the company’s stock.

UiPath Trading Up 6.9 %

Shares of NYSE PATH opened at $16.59 on Friday. UiPath Inc. has a 12-month low of $10.40 and a 12-month high of $19.94. The company has a market cap of $9.40 billion, a P/E ratio of -51.84 and a beta of 0.60. The stock has a fifty day moving average price of $16.43 and a 200 day moving average price of $16.29.

UiPath (NYSE:PATH – Get Free Report) last announced its quarterly earnings results on Wednesday, September 6th. The healthcare company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The firm had revenue of $287.31 million during the quarter, compared to the consensus estimate of $281.48 million. UiPath had a negative return on equity of 7.49% and a negative net margin of 15.47%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS. On average, sell-side analysts forecast that UiPath Inc. will post -0.28 EPS for the current fiscal year.

UiPath Profile

(Free Report)

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.