Franklin Resources Inc. Decreases Stock Holdings in UiPath, Inc. $PATH

Franklin Resources Inc. lowered its holdings in shares of UiPath, Inc. (NYSE:PATH) by 29.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 199,636 shares of the company’s stock after selling 84,819 shares during the quarter. Franklin Resources Inc.’s holdings in UiPath were worth $2,555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PATH. Vanguard Group Inc. raised its position in shares of UiPath by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company’s stock valued at $495,029,000 after buying an additional 1,396,972 shares in the last quarter. Acadian Asset Management LLC increased its stake in UiPath by 51.7% during the second quarter. Acadian Asset Management LLC now owns 6,432,985 shares of the company’s stock worth $82,322,000 after acquiring an additional 2,191,938 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in UiPath by 10.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,132,003 shares of the company’s stock valued at $63,164,000 after purchasing an additional 602,866 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of UiPath by 6.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,995,632 shares of the company’s stock valued at $30,855,000 after purchasing an additional 177,071 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of UiPath by 98.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,852,410 shares of the company’s stock valued at $36,511,000 after purchasing an additional 1,417,356 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PATH. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Friday, September 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of UiPath in a research report on Thursday, October 30th. Canaccord Genuity Group reduced their target price on shares of UiPath from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, September 8th. Cowen reaffirmed a “hold” rating on shares of UiPath in a research note on Friday, September 5th. Finally, DA Davidson started coverage on shares of UiPath in a report on Friday, September 5th. They set a “neutral” rating and a $12.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.71.

UiPath Trading Up 4.2%

NYSE:PATH opened at $14.90 on Thursday. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 496.53, a price-to-earnings-growth ratio of 5.29 and a beta of 1.10. UiPath, Inc. has a twelve month low of $9.38 and a twelve month high of $18.74. The stock has a fifty day simple moving average of $14.67 and a 200-day simple moving average of $12.99.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $411.11 million for the quarter, compared to the consensus estimate of $392.46 million. UiPath had a net margin of 1.35% and a return on equity of 1.28%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. As a group, equities research analysts predict that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at UiPath

In other UiPath news, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $15.07, for a total transaction of $678,150.00. Following the transaction, the chief executive officer directly owned 29,288,585 shares in the company, valued at $441,378,975.95. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Hitesh Ramani sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $15.47, for a total value of $77,350.00. Following the completion of the sale, the chief accounting officer owned 182,776 shares of the company’s stock, valued at $2,827,544.72. This represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,319,002 shares of company stock valued at $34,094,875 in the last ninety days. Insiders own 23.19% 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.