Atomi Financial Group Inc. Sells 2,893 Shares of UiPath Inc. (NYSE:PATH)

Atomi Financial Group Inc. reduced its position in UiPath Inc. (NYSE:PATH) by 15.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,665 shares of the healthcare company’s stock after selling 2,893 shares during the period. Atomi Financial Group Inc.’s holdings in UiPath were worth $355,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PATH. Wellington Management Group LLP lifted its holdings in shares of UiPath by 59.0% in the 3rd quarter. Wellington Management Group LLP now owns 99,930 shares of the healthcare company’s stock worth $1,710,000 after purchasing an additional 37,062 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of UiPath by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock worth $645,916,000 after purchasing an additional 2,673,718 shares in the last quarter. Symmetry Partners LLC bought a new position in shares of UiPath in the 4th quarter worth $205,000. Handelsinvest Investeringsforvaltning bought a new position in shares of UiPath in the 4th quarter worth $482,000. Finally, Gulf International Bank UK Ltd lifted its stake in UiPath by 111.8% during the 4th quarter. Gulf International Bank UK Ltd now owns 41,794 shares of the healthcare company’s stock valued at $1,038,000 after acquiring an additional 22,061 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

UiPath Stock Performance

NYSE PATH traded down $0.18 during trading hours on Monday, hitting $12.45. The company had a trading volume of 8,248,475 shares, compared to its average volume of 9,966,499. UiPath Inc. has a 52 week low of $11.07 and a 52 week high of $27.87. The firm has a 50 day simple moving average of $14.84 and a 200 day simple moving average of $19.85. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of -78.75 and a beta of 0.86.

UiPath (NYSE:PATH) last issued its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The business had revenue of $335.11 million during the quarter, compared to the consensus estimate of $332.84 million. On average, research analysts forecast that UiPath Inc. will post -0.21 earnings per share for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

PATH has been the topic of several recent analyst reports. TD Cowen restated a “hold” rating and set a $17.00 price objective (down from $28.00) on shares of UiPath in a research note on Thursday, May 30th. BMO Capital Markets dropped their price objective on UiPath from $28.00 to $14.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. Morgan Stanley dropped their price objective on UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Evercore ISI dropped their price objective on UiPath from $27.00 to $13.00 and set an “in-line” rating on the stock in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. dropped their price objective on UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.06.

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.