October 12, 2023
Accel Growth Fund Trims its Position in UiPath Inc.
According to the latest filing with the Securities and Exchange Commission (SEC), Accel Growth Fund IV Associates L.L.C. has reduced its position in UiPath Inc. (NYSE:PATH) by 43.2% during the second quarter. The firm owned a total of 7,450,264 shares of the healthcare company’s stock after selling approximately 5,672,169 shares during this period. As a result, UiPath now represents about 99.6% of Accel Growth Fund IV Associates L.L.C.’s portfolio, making it their largest holding. At the end of the most recent quarter, Accel Growth Fund IV Associates L.L.C.’s stake in UiPath was valued at $123,451,000.
The reduction in Accel Growth Fund’s position brings forth questions about their outlook on UiPath’s future performance. Investors may speculate whether this is indicative of how they perceive the growth potential of the healthcare company or if it is simply part of a strategic shift within their investment portfolio.
In addition to this development, Director Rich Wong made news when he sold 100,000 shares of UiPath stock on September 22nd for an average price of $16.38 per share, totaling $1,638,000. Following this sale, Wong now holds 779,693 shares directly in the company which are currently valued at approximately $12,771,371.
A separate transaction occurred on August 15th when CFO Ashim Gupta sold 40,000 shares of UiPath stock at an average price of $15.52 per share amounting to a total value of $620,800. After completing this sale, Gupta’s direct ownership consists of 1,344,047 shares which have an estimated value of $20,859,609.
These insider transactions highlight the involvement of key individuals within the company who have chosen to divest their own holdings. Such actions raise questions about their confidence in UiPath’s future prospects and deserve scrutiny from investors.
The SEC filings provide transparency by offering access to more detailed information on these transactions. Interested parties can find further details via the provided hyperlink, which leads to a legal filing available for public viewing.
It is worth noting that an additional 100,000 shares were sold by Director Rich Wong on September 22nd, at an average price of $16.38 per share, for a total value of $1,638,000. This brings his current ownership in UiPath to 779,693 shares valued at $12,771,371.34.
In summary, corporate insiders have collectively sold a total of 220,000 shares worth $3,691,600 in the last quarter alone. These insider sales represent approximately 31.03% of the company’s total stock.
As always when it comes to insider selling activity, investors should carefully analyze these transactions and consider them alongside other relevant factors before making any investment decisions.
References:
– SEC filing: Available at [provide link]
– SEC filing: Can be accessed via this hyperlink
– Disclosure for insider sales: Found here
Disclaimer: The article does not constitute financial advice or recommendations. Users are solely responsible for their own investment decisions based on their individual circumstances and risk tolerance levels.
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UiPath Sees Holdings Modifications by Large Investors, Mixed Analyst Views on Stock
UiPath, a healthcare company listed on the New York Stock Exchange (NYSE: PATH), has recently seen modifications to its holdings by several large investors. Raymond James Financial Services Advisors Inc. increased its holdings in UiPath by 3.8% during the first quarter of this year, acquiring an additional 1,506 shares and bringing its total ownership to 40,993 shares valued at $885,000.
MetLife Investment Management LLC also entered the scene during the first quarter, purchasing a new stake in UiPath valued at approximately $184,000. In addition, BlackRock Inc., one of the world’s largest investment management firms, increased its holdings in UiPath by 1.9%, buying an additional 99,242 shares worth $114,786,000 during the same period.
Dimensional Fund Advisors LP also joined other institutional investors in acquiring a stake in UiPath with a value of about $534,000. Moreover, Canada Pension Plan Investment Board obtained a new stake in UiPath for around $259,000 during the same quarter.
Overall, hedge funds and other institutional investors currently own approximately 59.04% of UiPath’s stock.
In terms of analyst ratings and target prices for UiPath stock, opinions have varied. Canaccord Genuity Group raised their target price from $19.00 to $21.00 and gave the stock a “buy” rating in their research report on September 7th. Royal Bank of Canada maintained a “sector perform” rating with a price objective of $19.00 for UiPath shares on September 28th. Needham & Company LLC reiterated their “buy” rating and set a price target of $20.00 for UiPath on Wednesday.
Bank of America also boosted their price target from $20.00 to $22.00 for UiPath stock on September 7th. Mizuho increased their price objective from $16.00 to $18.00 and gave the stock a “neutral” rating in their research report on September 7th.
Currently, nine analysts rate UiPath’s stock as a hold, while six analysts have given it a buy rating. With these ratings in mind, Bloomberg’s data suggests that UiPath has a consensus rating of “Hold” and a consensus price target of $19.84.
On October 12, 2023, shares of UiPath were trading at $17.02, down by $0.13 during the trading hours. The total exchange volume for the day was 2,247,885 shares compared to the average volume of 7,752,221 shares for the company.
UiPath has experienced a range of prices over the past year with a low of $10.40 and a high of $19.94. The market capitalization currently stands at $9.65 billion.
The company’s financial performance for the last reported quarter ended on September 6th showed positive results. UiPath beat analyst expectations by reporting earnings per share (EPS) of $0.09 compared to the consensus estimate of $0.04 per share – an increase of $0.05.
UiPath also reported revenue for the quarter amounting to $287.31 million, surpassing analysts’ expectations which had projected revenue of around $281.48 million for the same period.
However, UiPath still faces challenges such as negative return on equity (-7.49%) and negative net margin (-15.47%) during this quarter.
The company’s revenue also experienced growth with an increase of 18.6% compared to the same quarter in the previous year.
Looking forward, research analysts anticipate that UiPath Inc.’s earnings per share for this fiscal year will be -$0.28 on average.
In conclusion, UiPath has garnered attention from large investors who have modified their holdings, while analysts have expressed mixed views on its stock with a wide range of target prices. The latest financial results were positive, indicating growth in revenue and surpassing earnings per share estimates. However, UiPath still faces challenges in terms of negative return on equity and net margin.
