Merlin Capital Inc Has $891,000 Stock Holdings in UiPath Inc. (NYSE:PATH)

Merlin Capital Inc cut its stake in shares of UiPath Inc. (NYSE:PATH) by 28.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,864 shares of the healthcare company’s stock after selling 14,578 shares during the quarter. UiPath makes up approximately 2.9% of Merlin Capital Inc’s holdings, making the stock its biggest position. Merlin Capital Inc’s holdings in UiPath were worth $891,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PATH. Vanguard Group Inc. grew its stake in shares of UiPath by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock valued at $645,916,000 after acquiring an additional 2,673,718 shares during the period. Glenmede Trust Co. NA boosted its stake in UiPath by 3,273.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,564,985 shares of the healthcare company’s stock worth $26,777,000 after purchasing an additional 1,518,592 shares during the period. FMR LLC boosted its stake in UiPath by 2.9% in the 3rd quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock worth $277,835,000 after purchasing an additional 463,032 shares during the period. Los Angeles Capital Management LLC boosted its stake in UiPath by 179.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 715,688 shares of the healthcare company’s stock worth $12,245,000 after purchasing an additional 459,965 shares during the period. Finally, Federated Hermes Inc. boosted its stake in UiPath by 857.7% in the 4th quarter. Federated Hermes Inc. now owns 458,126 shares of the healthcare company’s stock worth $11,380,000 after purchasing an additional 410,288 shares during the period. 62.50% of the stock is currently owned by institutional investors.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $21.66, for a total transaction of $866,400.00. Following the transaction, the chief financial officer now owns 660,762 shares of the company’s stock, valued at approximately $14,312,104.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 72,000 shares of company stock valued at $1,591,360. 31.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PATH shares. TD Cowen upped their price objective on UiPath from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. KeyCorp started coverage on UiPath in a report on Monday, April 8th. They set an “overweight” rating and a $27.00 price objective on the stock. Scotiabank upped their price objective on UiPath from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Thursday, March 14th. DA Davidson upped their price objective on UiPath from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Finally, Bank of America upped their price objective on UiPath from $26.00 to $30.00 and gave the stock a “buy” rating 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.41.

UiPath Stock Performance

PATH stock traded down $0.51 during midday trading on Tuesday, reaching $19.25. The company’s stock had a trading volume of 1,968,426 shares, compared to its average volume of 8,570,400. The stock has a fifty day simple moving average of $22.08 and a two-hundred day simple moving average of $21.64. UiPath Inc. has a 1 year low of $12.38 and a 1 year high of $27.87. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of -115.17 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 for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. The business had revenue of $405.25 million for the quarter, compared to analyst estimates of $383.32 million. As a group, analysts forecast that UiPath Inc. will post -0.04 EPS for the current fiscal year.

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.