PATH UiPath, Inc. Class A Common Stock
$16.54
Price · Aug 24, 2026
Fundamentals as of Jun 4, 2026
52W Range
$9–$20
69% of range
Analyst Rating
HOLD
28 analysts
Price Target
$13
P/E (TTM)
24.2
ROE
15.1%
Net Profit Margin
17.5%
About UiPath, Inc. Class A Common Stock Company overview from Wikipedia
UiPath Inc. is a Romanian-American multinational software company that develops artificial intelligence (AI) and agentic automation and orchestration software. The company's software enables the building and orchestration of AI agents to automate complex processes and workflows.
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UiPath Inc. is a Romanian-American multinational software company that develops artificial intelligence (AI) and agentic automation and orchestration software. The company's software enables the building and orchestration of AI agents to automate complex processes and workflows.
Founded in 2005 in Bucharest, Romania, by Daniel Dines and Marius Tîrcă, the company is headquartered in New York City. The company became public on April 21, 2021, which at the time was reportedly one of the largest US software IPOs in history.
History
UiPath was founded in 2005 in Bucharest, Romania as DeskOver, by Romanian entrepreneurs Daniel Dines and Marius Tîrcă.
In 2013, the company released the first UiPath Desktop Automation product line, which gave companies RPA tools to automate manual and repetitive back office tasks.
In 2015, the company changed its name to UiPath. Also in 2015, after receiving seed funding from Accel Partners and earlier investors, the company also opened offices in London, New York City, Bangalore, Paris, Singapore, Washington, D.C., and Tokyo.
By April 2016, the company had released its Front Office and Back Office Server suites, and also released its Studio Community Edition. Within six months, the company had 10,000 active members, and more than 250 enterprise customers.
In 2017, UiPath reported 590 employees and moved its headquarters to New York to be closer to its international customer base.
In October 2019, UiPath announced the acquisition of Ukrainian process documentation company StepShot and Dutch process mining company ProcessGold. Also in October, the company announced several updates to its technology platform, including UiPath Explorer, an automation identification and planning tool developed using technology from the acquired companies; a robot communication tool called UiPath Apps; a low code robot programming tool called UiPath StudioX; an embedded analytics tool called UiPath Insights; and UiPath Connect, a tool that allowed every employee to find new processes to automate.
In November of the same year, the company reported it had 5,000 customers worldwide, and a developer community of more than 500,000 people. In November, the company was ranked first in the Deloitte Technology Fast 500.
In March 2021, UiPath acquired Cloud Elements, an interconnectivity platform to advance API-based automation capabilities.
In April 2021, UiPath raised $1.3 billion in an initial public offering on the New York Stock Exchange in one of the largest US software IPOs in history.
In July 2022, UiPath acquired Re:infer, a natural language processing developer, for an undisclosed sum.
In July 2024, the company released its UiPath Autopilot program, which integrated generative AI and NLP into its Business Automation Platform. It also announced a collaboration with Microsoft to integrate agentic AI into Microsoft's Teams collaboration software.
In October 2024, the company launched a preview of its Agent Builder, an agentic automation tool for developers to combine RPA with generative AI-powered agents to help simplify enterprise automation efforts.
In March 2025, the company announced its UiPath Test Cloud, a tool to improve software testing by integrating AI agents. Also in March, UiPath acquired Peak, a Manchester-headquartered AI company specializing in agentic solutions for inventory and pricing optimization, for an undisclosed sum.
In April 2025, the company launched UiPath Platform for Agentic Automation, with an orchestration layer called Maestro, allowing employees to work more effectively with agents and robots.
In October 2025, the UiPath Platform was named as one of TIME Magazine's Best Inventions of 2025.
Products
UiPath develops agentic automation software that combines robots, AI agents and people to automate workflows and processes. Agentic automation integrates traditional robotic process automation (RPA), artificial intelligence, and human decision-making capabilities to allow for larger, more complex automations.
UiPath's main product is the UiPath Platform for Agentic Automation. The platform combines a family of low-code visual integrated development environment (IDE) products called UiPath Studio for process creation, with client-side agents called Robots that execute those processes. An important part of the platform is UiPath Maestro, an orchestration engine designed to automate, model and optimize complex business processes, and monitor the performance of agents and robots.
Its earlier RPA products simplified tasks performed using other business software such as CRM or ERP systems, in internal and back-office areas like accounting, human resources paperwork, and claims processing.
UiPath also hosts the UiPath Academy, to provide job training and certification in the fields of agentic automation and robotic process automation.
== Funding ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
PATH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$16.54
Market Cap
—
P/E (TTM)
24.2
EPS (TTM)
$0.52
Revenue (TTM)
$1.61B
Div Yield
—
ROE
15.1%
Debt/Equity
—
52W Range
$9 – $20
PATH Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.61B
2020-01-31
→
2026-01-31
EPS
$0.52
2020-01-31
→
2026-01-31
Free Cash Flow
$352M
2022-01-31
→
2026-01-31
Margins
17.5%
2022-01-31
→
2026-01-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PATH
Peer Median
P/E (TTM)
24.2
30.1
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PATH
Peer Median
Gross Margin
83.2%
79.3%
Operating Margin
3.5%
—
Net Profit Margin
17.5%
12.7%
ROA
9.3%
4.9%
ROE
15.1%
15.3%
ROIC
7.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PATH
Peer Median
Current Ratio
2.5
1.9
Quick Ratio
2.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PATH
Peer Median
Revenue YoY
12.7%
—
Revenue CAGR 3Y
15.0%
—
Revenue CAGR 5Y
21.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PATH
Peer Median
PATH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
28 analysts
- Strong Buy 2 7.1%
- Buy 7 25.0%
- Hold 18 64.3%
- Sell 1 3.6%
- Strong Sell 0 0.0%
12-Month Price Target
16 analysts · 2026-08-23
Median
$13.00
Now
$16.54
Low
$10.98
High
$17.00
Median target
$13.00
-21.4%
Mean target
$13.44
-18.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.02%
Next Report
Sep 03, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2027 | $0.15 | $0.16 | — |
| June 30, 2026 | $0.15 | $0.16 | -0.01% |
| March 31, 2026 | $0.30 | $0.26 | 0.04% |
| Dec. 31, 2025 | $0.16 | $0.15 | 0.01% |
| Sept. 30, 2025 | $0.15 | $0.08 | 0.07% |
| June 30, 2025 | $0.11 | $0.10 | 0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PATH | — | 24.2 | 12.7% | 17.5% | 15.1% | 83.2% |
| FTNT | $59.00B | 32.8 | 14.2% | 27.3% | 135.7% | 80.5% |
| ZS | $45.20B | -1057.6 | 23.3% | -1.6% | -2.4% | 76.9% |
| RBRK | $11.32B | -31.4 | 48.5% | -26.5% | 64.4% | 80.1% |
| GEN | $11.30B | 12.0 | 27.1% | 19.5% | 38.4% | 78.5% |
| FROG | $7.47B | -100.7 | 24.1% | -13.5% | -8.4% | 76.8% |
| S | — | -10.2 | 21.9% | -45.0% | -30.6% | 74.1% |
| GTLB | — | -103.1 | 25.8% | -5.9% | -6.3% | 87.4% |
| QLYS | $4.75B | 24.4 | 10.1% | 29.6% | 37.1% | 82.8% |
| DLB | — | 27.6 | 5.9% | 18.9% | 10.0% | 88.1% |
| NTSK | $0 | -4.7 | 31.7% | -95.8% | 325.4% | 68.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.61B | $1.43B | $1.31B | $1.06B | $892M | $608M | $336M | |
| Cost of Revenue | $271M | $247M | $196M | $180M | $169M | $66M | $59M | |
| Gross Profit | $1.34B | $1.18B | $1.11B | $879M | $723M | $542M | $277M | |
| R&D Expense | $385M | $381M | $332M | $286M | $277M | $110M | $131M | |
| SG&A Expense | $214M | $226M | $232M | $240M | $250M | $162M | $180M | |
| Operating Expenses | $1.28B | $1.35B | $1.28B | $1.23B | $1.22B | $652M | $794M | |
| Operating Income | $57M | $-163M | $-165M | $-348M | $-501M | $-110M | $-517M | |
| Interest Income | $48M | $49M | $57M | $28M | $4M | $1M | $7M | |
| Other Non-op | $-4M | $35M | $32M | $3M | $-13M | $15M | $-7M | |
| Pretax Income | $101M | $-78M | $-76M | $-318M | $-511M | $-95M | $-517M | |
| Income Tax | $-182M | $-4M | $14M | $11M | $15M | $-2M | $3M | |
| Net Income | $282M | $-74M | $-90M | $-328M | $-526M | $-92M | $-520M | |
| EPS (Basic) | $0.52 | $-0.13 | $-0.16 | $-0.60 | $-1.16 | $-0.55 | $-3.41 | |
| EPS (Diluted) | $0.52 | $-0.13 | $-0.16 | $-0.60 | $-1.16 | $-0.55 | $-3.41 | |
| Shares (Basic) | 538,125,000 | 559,933,000 | 563,855,000 | 548,022,000 | 454,625,000 | 168,255,000 | 152,382,000 | |
| Shares (Diluted) | 544,860,000 | 559,933,000 | 563,855,000 | 548,022,000 | 454,625,000 | 168,255,000 | 152,382,000 | |
| EBITDA | $57M | $-163M | $-165M | $-348M | $-501M | · | · |
Balance Sheet 25
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $871M | $879M | $1.06B | $1.40B | $1.77B | $358M | · | |
| Short-term Investments | $601M | $750M | $818M | $355M | $96M | $103M | · | |
| Receivables | $488M | $451M | $436M | $374M | $252M | $172M | · | |
| Prepaid Expense | $106M | $86M | $105M | $94M | $55M | $50M | · | |
| Other Current Assets | $50M | $21M | $17M | $26M | $10M | $0 | · | |
| Current Assets | $2.24B | $2.34B | $2.58B | $2.34B | $2.28B | $734M | · | |
| PP&E (Net) | $46M | $33M | $24M | $29M | $17M | $15M | · | |
| PP&E (Gross) | $92M | $72M | $57M | $57M | $39M | $33M | · | |
| Accum. Depreciation | $46M | $40M | $33M | $28M | $22M | $18M | · | |
| Goodwill | $125M | $87M | $89M | $88M | $54M | $28M | $25M | |
| Intangibles | $20M | $8M | $15M | $23M | $17M | $10M | · | |
| Other Non-current Assets | $73M | $67M | $25M | $46M | $26M | $12M | · | |
| Total Assets | $3.18B | $2.87B | $2.95B | $2.74B | $2.57B | $866M | · | |
| Accounts Payable | $10M | $33M | $3M | $9M | $12M | $7M | · | |
| Accrued Liabilities | · | · | $84M | $77M | $88M | $37M | · | |
| Current Liabilities | $905M | $799M | $712M | $626M | $528M | $365M | · | |
| Capital Leases | $71M | $74M | $59M | $56M | $50M | $14M | · | |
| Deferred Tax | $10M | $4M | $133.0K | $338.0K | $34.0K | $3M | · | |
| Other Non-current Liabilities | $17M | $11M | $7M | $10M | $5M | $8M | · | |
| Total Liabilities | $1.10B | $1.02B | $939M | $815M | $651M | $448M | · | |
| Retained Earnings | $-1.71B | $-1.99B | $-1.91B | $-1.82B | $-1.50B | $-970M | · | |
| Treasury Stock | $834M | $495M | $103M | $0 | · | · | · | |
| AOCI | $37M | $-5M | $9M | $8M | $11M | $-13M | · | |
| Stockholders' Equity | $2.08B | $1.85B | $2.02B | $1.92B | $1.92B | $-804M | $-800M | |
| Liabilities + Equity | $3.18B | $2.87B | $2.95B | $2.74B | $2.57B | $866M | · |
Cash Flow 14
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| D&A | $17M | $17M | $23M | $19M | $15M | $12M | $9M | |
| Stock-based Comp | $291M | $358M | $372M | $370M | $516M | $86M | $138M | |
| Deferred Tax | $-203M | $-20M | $554.0K | $861.0K | $-6M | $-8M | $-1M | |
| Amort. of Intangibles | $8M | $7M | $9M | $7M | $5M | $3M | $700.0K | |
| Restructuring | $4M | $25M | $3M | $23M | · | · | · | |
| Operating Cash Flow | $371M | $321M | $299M | $-10M | $-55M | $29M | $-359M | |
| CapEx | $19M | $15M | $7M | $24M | $9M | $2M | $16M | |
| Investing Cash Flow | $-22M | $-46M | $-440M | $-289M | $-35M | $-126M | $-40M | |
| Stock Repurchased | $329M | $391M | $103M | $0 | $0 | $0 | $129M | |
| Net Stock Activity | $-329M | $-391M | $-103M | · | $0 | · | · | |
| Financing Cash Flow | $-372M | $-451M | $-197M | $-61M | $1.47B | $250M | $458M | |
| Net Change in Cash | $-8M | $-182M | $-340M | $-367M | $1.40B | $137M | $62M | |
| Taxes Paid | $10M | $17M | $11M | $21M | $8M | $5M | $4M | |
| Free Cash Flow | $352M | $306M | $292M | $-34M | $-64M | · | · |
Profitability 8
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.2% | 82.7% | 85.0% | 83.0% | 81.1% | · | · | |
| Operating Margin | 3.5% | -11.4% | -12.6% | -32.9% | -56.1% | · | · | |
| Net Margin | 17.5% | -5.1% | -6.9% | -31.0% | -58.9% | · | · | |
| Pretax Margin | 6.2% | -5.5% | -5.8% | -30.0% | -57.3% | · | · | |
| EBITDA Margin | 3.5% | -11.4% | -12.6% | -32.9% | -56.1% | · | · | |
| ROA | 9.3% | -2.5% | -3.2% | -12.4% | -30.6% | · | · | |
| ROE | 15.1% | -4.1% | -4.5% | -17.4% | -27.6% | · | · | |
| ROIC | 7.6% | -8.3% | -9.7% | -18.8% | -26.8% | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.5 | 2.9 | 3.6 | 3.7 | 4.3 | · | · | |
| Quick Ratio | 2.2 | 2.6 | 3.3 | 3.4 | 4.0 | · | · |
Efficiency 2
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | 0.5 | 0.4 | 0.5 | · | · | |
| Receivables Turnover | 3.4 | 3.2 | 3.2 | 3.4 | 4.2 | · | · |
Growth Rates 3
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 12.7% | 9.3% | 23.6% | 18.6% | 46.8% | · | · | |
| Revenue CAGR 3Y | 15.0% | 17.0% | 29.1% | · | · | · | · | |
| Revenue CAGR 5Y | 21.5% | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.61B | $1.43B | $1.31B | $1.06B | $892M | · | · | |
| Net Income TTM | $282M | $-74M | $-90M | $-328M | $-526M | · | · | |
| P/E | 24.2 | -109.4 | -143.6 | -25.6 | -31.5 | · | · | |
| Earnings Yield | 4.1% | -0.91% | -0.70% | -3.9% | -3.2% | · | · |
Income Statement 17
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $418M | $481M | $411M | $362M | $357M | $424M | $355M | $316M | $335M | $405M | $326M | $287M | $290M | $309M | $263M | $242M | |
| Cost of Revenue | $77M | $74M | $69M | $64M | $64M | $65M | $64M | $63M | $55M | $53M | $50M | $49M | $44M | $48M | $43M | $45M | |
| Gross Profit | $341M | $407M | $342M | $297M | $293M | $359M | $291M | $253M | $280M | $352M | $276M | $238M | $246M | $261M | $220M | $198M | |
| R&D Expense | $93M | $95M | $97M | $98M | $95M | $100M | $97M | $98M | $86M | $86M | $85M | $87M | $75M | $82M | $67M | $68M | |
| SG&A Expense | $53M | $54M | $53M | $53M | $55M | $49M | $50M | $64M | $64M | $59M | $56M | $60M | $57M | $50M | $63M | $68M | |
| Operating Expenses | $313M | $327M | $329M | $318M | $309M | $326M | $334M | $356M | $329M | $337M | $332M | $316M | $292M | $306M | $287M | $318M | |
| Operating Income | $28M | $80M | $13M | $-20M | $-16M | $34M | $-43M | $-103M | $-49M | $15M | $-56M | $-78M | $-46M | $-45M | $-67M | $-120M | |
| Interest Income | $10M | $12M | $12M | $12M | $13M | $12M | $10M | $13M | $14M | $15M | $14M | $14M | $14M | $13M | $10M | $5M | |
| Other Non-op | $3M | $481.0K | $-180.0K | $12M | $-16M | $9M | $8M | $8M | $11M | $6M | $14M | $7M | $4M | $5M | $888.0K | $-600.0K | |
| Pretax Income | $41M | $92M | $25M | $3M | $-20M | $55M | $-25M | $-82M | $-25M | $37M | $-28M | $-57M | $-28M | $-27M | $-57M | $-116M | |
| Income Tax | $18M | $-12M | $-174M | $2M | $3M | $3M | $-15M | $4M | $4M | $3M | $4M | $4M | $4M | $730.0K | $1M | $4M | |
| Net Income | $23M | $104M | $199M | $2M | $-23M | $52M | $-11M | $-86M | $-29M | $34M | $-32M | $-60M | $-32M | $-28M | $-58M | $-120M | |
| EPS (Basic) | $0.04 | $0.19 | $0.37 | $0.00 | $-0.04 | $0.09 | $-0.02 | $-0.15 | $-0.05 | $0.07 | $-0.06 | $-0.11 | $-0.06 | $-0.05 | $-0.10 | $-0.22 | |
| EPS (Diluted) | $0.04 | $0.19 | $0.37 | $0.00 | $-0.04 | $0.09 | $-0.02 | $-0.15 | $-0.05 | $0.07 | $-0.06 | $-0.11 | $-0.06 | $-0.05 | $-0.10 | $-0.22 | |
| Shares (Basic) | 523,584,000 | -1,078,750,000 | 532,255,000 | 536,169,000 | 548,451,000 | -1,129,070,000 | 551,036,000 | 568,042,000 | 569,925,000 | -1,123,942,000 | 567,036,000 | 562,883,000 | 557,878,000 | -1,090,102,000 | 550,164,000 | 546,058,000 | |
| Shares (Diluted) | 527,818,000 | -1,085,474,000 | 539,018,000 | 542,865,000 | 548,451,000 | -1,129,070,000 | 551,036,000 | 568,042,000 | 569,925,000 | -1,123,942,000 | 567,036,000 | 562,883,000 | 557,878,000 | -1,090,102,000 | 550,164,000 | 546,058,000 | |
| EBITDA | $28M | · | $13M | $-20M | $-16M | · | $-43M | $-103M | $-49M | · | $-56M | $-78M | $-46M | · | $-67M | $-120M |
Balance Sheet 25
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $632M | $871M | $744M | $629M | $701M | $879M | $774M | $939M | $1.15B | · | $1.00B | $1.09B | $1.31B | · | $1.45B | $1.61B | |
| Short-term Investments | $675M | $601M | $655M | $819M | $854M | $750M | $795M | $804M | $789M | · | $814M | $736M | $469M | · | $226M | $114M | |
| Receivables | $300M | $488M | $367M | $270M | $267M | $451M | $336M | $268M | $271M | · | $373M | $226M | $233M | · | $276M | $193M | |
| Prepaid Expense | $113M | $106M | $112M | $110M | $99M | $86M | $81M | $85M | $98M | · | $91M | $107M | $121M | · | $75M | $63M | |
| Other Current Assets | $48M | $50M | $57M | $53M | $33M | $21M | $22M | $26M | $21M | · | $25M | $25M | $44M | · | · | · | |
| Current Assets | $1.92B | $2.24B | $2.09B | $2.03B | $2.11B | $2.34B | $2.18B | $2.27B | $2.47B | · | $2.43B | $2.30B | $2.26B | · | $2.16B | $2.11B | |
| PP&E (Net) | $46M | $46M | $45M | $42M | $42M | $33M | $25M | $22M | $23M | · | $23M | $25M | $27M | · | $28M | $26M | |
| PP&E (Gross) | $94M | $92M | $89M | $84M | $85M | $72M | $64M | $60M | $58M | · | $57M | $58M | $57M | · | $53M | $49M | |
| Accum. Depreciation | $49M | $46M | $44M | $43M | $43M | $40M | $39M | $38M | $35M | · | $35M | $33M | $31M | · | $25M | $24M | |
| Goodwill | $186M | $125M | $121M | $121M | $121M | $87M | $90M | $90M | $88M | $89M | $87M | $90M | $89M | $88M | $84M | $86M | |
| Intangibles | $100M | $20M | $22M | $22M | $24M | $8M | $9M | $11M | $13M | · | $16M | $19M | $21M | · | $24M | $27M | |
| Other Non-current Assets | $72M | $73M | $74M | $72M | $74M | $67M | $72M | $74M | $32M | · | $26M | $35M | $41M | · | $32M | $21M | |
| Total Assets | $2.90B | $3.18B | $2.90B | $2.59B | $2.64B | $2.87B | $2.66B | $2.70B | $2.84B | · | $2.79B | $2.67B | $2.64B | · | $2.51B | $2.43B | |
| Accounts Payable | $20M | $10M | $14M | $20M | $17M | $33M | $18M | $10M | $7M | · | $14M | $2M | $6M | · | $11M | $12M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | $108M | $64M | $63M | · | $79M | $75M | |
| Current Liabilities | $832M | $905M | $789M | $738M | $716M | $799M | $695M | $633M | $598M | · | $628M | $518M | $503M | · | $477M | $460M | |
| Capital Leases | $72M | $71M | $72M | $73M | $73M | $74M | $77M | $78M | $63M | · | $58M | $57M | $57M | · | $55M | $47M | |
| Deferred Tax | · | $10M | · | · | · | $4M | · | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $12M | $17M | $11M | $11M | $16M | $11M | $10M | $7M | $7M | · | $8M | $8M | $14M | · | $12M | $12M | |
| Total Liabilities | $1.00B | $1.10B | $971M | $927M | $946M | $1.02B | $931M | $868M | $818M | · | $826M | $687M | $687M | · | $652M | $585M | |
| Retained Earnings | $-1.68B | $-1.71B | $-1.81B | $-2.01B | $-2.01B | $-1.99B | $-2.04B | $-2.03B | $-1.94B | · | $-1.95B | $-1.92B | $-1.86B | · | $-1.80B | $-1.74B | |
| Treasury Stock | $1.07B | $834M | $824M | $825M | $724M | $495M | $487M | $322M | $125M | · | $53M | · | · | · | · | · | |
| AOCI | $27M | $37M | $28M | $25M | $30M | $-5M | $9M | $8M | $5M | · | $3M | $12M | $10M | · | $7M | $11M | |
| Stockholders' Equity | $1.90B | $2.08B | $1.92B | $1.67B | $1.70B | $1.85B | $1.73B | $1.83B | $2.03B | $2.02B | $1.96B | $1.98B | $1.96B | $1.92B | $1.86B | $1.85B | |
| Liabilities + Equity | $2.90B | $3.18B | $2.90B | $2.59B | $2.64B | $2.87B | $2.66B | $2.70B | $2.84B | · | $2.79B | $2.67B | $2.64B | · | $2.51B | $2.43B |
Cash Flow 14
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $8M | $5M | $5M | $4M | $3M | $3M | $5M | $5M | $5M | $6M | $5M | $6M | $6M | $6M | $5M | $4M | |
| Stock-based Comp | $53M | $65M | $71M | $78M | $76M | $88M | $87M | $94M | $89M | $89M | $96M | $102M | $85M | $99M | $81M | $88M | |
| Deferred Tax | $11M | $-15M | $-187M | $-1M | $640.0K | $979.0K | $-22M | $183.0K | $569.0K | $2M | $-983.0K | $210.0K | $-267.0K | $-310.0K | $-334.0K | $-89.0K | |
| Amort. of Intangibles | $5M | $2M | $2M | $2M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | |
| Restructuring | · | $0 | $0 | $1M | $3M | $9M | $3M | · | · | · | · | · | · | $10M | $1M | $12M | |
| Operating Cash Flow | $132M | $182M | $28M | $42M | $119M | $146M | $28M | $46M | $100M | $146M | $42M | $44M | $67M | $94M | $-27M | $-24M | |
| CapEx | $3M | $3M | $3M | $0 | $13M | $7M | $5M | $1M | $1M | $4M | $682.0K | $1M | $2M | $2M | $5M | $7M | |
| Investing Cash Flow | $-113M | $-43M | $101M | $-655.0K | $-80M | $-17M | $-23M | $-42M | $36M | $-9M | $-60M | $-235M | $-136M | $-126M | $-118M | $-29M | |
| Stock Repurchased | $244M | $0 | $0 | $102M | $228M | $9M | $163M | $197M | $22M | $50M | $53M | $0 | $0 | $0 | · | · | |
| Net Stock Activity | $-244M | · | · | · | $-228M | · | · | · | $-22M | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-252M | $-14M | $-11M | $-112M | $-235M | $-17M | $-173M | $-215M | $-46M | $-82M | $-69M | $-25M | $-21M | $-17M | $-7M | $-19M | |
| Net Change in Cash | $-238M | $127M | $115M | $-72M | $-179M | $106M | $-166M | $-207M | $85M | $59M | $-91M | $-217M | $-91M | $-49M | $-156M | $-72M | |
| Taxes Paid | $5M | $-3M | $1M | $5M | $6M | $1M | $4M | $5M | $7M | $2M | $2M | $1M | $6M | $2M | $1M | $15M | |
| Free Cash Flow | $129M | · | · | · | $106M | · | · | · | $99M | · | · | · | $65M | · | · | · |
Profitability 8
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.6% | · | 83.3% | 82.2% | 82.1% | · | 82.0% | 80.0% | 83.5% | · | 84.7% | 83.0% | 84.9% | · | 83.7% | 81.6% | |
| Operating Margin | 6.7% | · | 3.2% | -5.6% | -4.6% | · | -12.2% | -32.7% | -14.8% | · | -17.1% | -27.0% | -16.0% | · | -25.5% | -49.6% | |
| Net Margin | 5.4% | · | 48.4% | 0.44% | -6.3% | · | -3.0% | -27.2% | -8.6% | · | -9.7% | -21.0% | -11.0% | · | -22.0% | -49.7% | |
| Pretax Margin | 9.8% | · | 6.0% | 0.92% | -5.5% | · | -7.2% | -26.0% | -7.4% | · | -8.5% | -19.7% | -9.8% | · | -21.5% | -48.0% | |
| EBITDA Margin | 6.7% | · | 3.2% | -5.6% | -4.6% | · | -12.2% | -32.7% | -14.8% | · | -17.1% | -27.0% | -16.0% | · | -25.5% | -49.6% | |
| ROA | 0.81% | · | 7.1% | 0.06% | -0.82% | · | -0.39% | -3.2% | -1.1% | · | -1.2% | -2.4% | -1.3% | · | -2.3% | -5.0% | |
| ROE | 1.2% | · | 10.9% | 0.09% | -1.2% | · | -0.58% | -4.5% | -1.4% | · | -1.7% | -3.1% | -1.7% | · | -3.1% | -6.4% | |
| ROIC | 0.81% | · | 5.5% | -0.58% | -1.1% | · | -1.1% | -5.9% | -2.8% | · | -3.2% | -4.2% | -2.7% | · | -3.7% | -6.7% |
Liquidity & Solvency 2
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.3 | · | 2.7 | 2.8 | 2.9 | · | 3.1 | 3.6 | 4.1 | · | 3.9 | 4.4 | 4.5 | · | 4.5 | 4.6 | |
| Quick Ratio | 1.9 | · | 2.2 | 2.3 | 2.5 | · | 2.7 | 3.2 | 3.7 | · | 3.5 | 4.0 | 4.0 | · | 4.1 | 4.2 |
Efficiency 2
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | |
| Receivables Turnover | 1.5 | · | 1.2 | 1.3 | 1.3 | · | 1.0 | 1.3 | 1.3 | · | 1.0 | 1.4 | 1.4 | · | 1.1 | 1.5 |
Valuation (TTM) 4
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.55B | · | $1.48B | $1.39B | $1.36B | · | $1.33B | $1.26B | $1.24B | · | $1.17B | $1.08B | $1.04B | · | $971M | $904M | |
| Net Income TTM | $200M | · | $167M | $-118M | $-148M | · | $-157M | $-207M | $-153M | · | $-182M | $-270M | $-333M | · | $-423M | $-466M | |
| P/E | 27.8 | · | 51.2 | -56.0 | -45.9 | · | -44.1 | -32.9 | -67.8 | · | -47.1 | -36.9 | -23.1 | · | -16.2 | -21.1 | |
| Earnings Yield | 3.6% | · | 1.9% | -1.8% | -2.2% | · | -2.3% | -3.0% | -1.5% | · | -2.1% | -2.7% | -4.3% | · | -6.2% | -4.8% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Revenue | $1.61B | $1.43B | $1.31B | $1.06B | $892M |
| Gross Margin % | 83.2% | 82.7% | 85.0% | 83.0% | 81.1% |
| Operating Margin % | 3.5% | -11.4% | -12.6% | -32.9% | -56.1% |
| Net Income | $282M | $-74M | $-90M | $-328M | $-526M |
| Diluted EPS | $0.52 | $-0.13 | $-0.16 | $-0.60 | $-1.16 |
Balance Sheet
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.5 | 2.9 | 3.6 | 3.7 | 4.3 |
| Quick Ratio | 2.2 | 2.6 | 3.3 | 3.4 | 4.0 |
Cash Flow
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $352M | $306M | $292M | $-34M | $-64M |
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Institutional owners (13F) 623 filers · $3.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 95 (-38 vs prior Q) | 83 (-19 vs prior Q) | 198 (-13 vs prior Q) | 177 (+19 vs prior Q) | +48.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $752,778,834 | 45,929,154 | 20.98% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $286,106,009 | 26,320,700 | 7.97% | Shares |
| Tetragon Partners GP Ltd | $244,031,500 | 22,450,000 | 6.80% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $203,385,179 | 18,710,688 | 5.67% | Shares |
| TWO SIGMA INVESTMENTS, LP | $163,424,395 | 15,034,443 | 4.55% | Shares |
| STATE STREET CORP | $150,355,884 | 13,832,188 | 4.19% | Shares |
| Senvest Management, LLC | $131,366,363 | 12,085,222 | 3.66% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $80,194,088 | 7,377,561 | 2.23% | Shares |
| Alphabet Inc. | $76,463,243 | 7,034,337 | 2.13% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $70,375,809 | 6,472,303 | 1.96% | Shares |
| GOLDMAN SACHS GROUP INC | $68,539,850 | 6,305,414 | 1.91% | Shares |
| GOLDMAN SACHS GROUP INC | $66,318,957 | 6,101,100 | 1.85% | Put option |
| NORGES BANK | $52,014,341 | 4,785,128 | 1.45% | Shares |
| D. E. Shaw & Co., Inc. | $44,541,673 | 4,097,670 | 1.24% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $38,630,893 | 3,553,900 | 1.08% | Shares |
| JANE STREET GROUP, LLC | $38,495,018 | 3,541,400 | 1.07% | Call option |
| NEUBERGER BERMAN GROUP LLC | $34,551,822 | 3,182,695 | 0.96% | Shares |
| JANE STREET GROUP, LLC | $34,412,246 | 3,165,800 | 0.96% | Put option |
| VANGUARD FIDUCIARY TRUST CO | $29,190,994 | 2,685,464 | 0.81% | Shares |
| ALKEON CAPITAL MANAGEMENT LLC | $28,384,570 | 2,611,276 | 0.79% | Shares |
| TWO SIGMA ADVISERS, LP | $27,466,378 | 1,675,801 | 0.77% | Shares |
| Cubist Systematic Strategies, LLC | $25,447,542 | 1,901,909 | 0.71% | Shares |
| FIRST TRUST ADVISORS LP | $24,618,644 | 2,264,835 | 0.69% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $22,277,489 | 2,049,447 | 0.62% | Shares |
| ARMISTICE CAPITAL, LLC | $21,740,000 | 2,000,000 | 0.61% | Shares |
| COATUE MANAGEMENT LLC | $21,320,038 | 1,961,365 | 0.59% | Shares |
| CITADEL ADVISORS LLC | $20,482,406 | 1,884,306 | 0.57% | Shares |
| Invenomic Capital Management LP | $19,431,103 | 1,787,590 | 0.54% | Shares |
| Balyasny Asset Management L.P. | $17,791,320 | 1,636,736 | 0.50% | Shares |
| D. E. Shaw & Co., Inc. | $17,384,391 | 1,599,300 | 0.48% | Call option |
| BlackRock, Inc. | $17,311,540 | 1,592,598 | 0.48% | Shares |
| Symmetry Investments LP | $16,848,500 | 1,550,000 | 0.47% | Call option |
| Gotham Asset Management, LLC | $16,848,207 | 1,549,973 | 0.47% | Shares |
| Squarepoint Ops LLC | $16,278,423 | 1,497,555 | 0.45% | Shares |
| MILLENNIUM MANAGEMENT LLC | $15,562,579 | 1,431,700 | 0.43% | Call option |
| PEAK6 LLC | $14,264,701 | 1,312,300 | 0.40% | Put option |
| Optimus Prime Fund Management Co., Ltd. | $12,826,600 | 1,180,000 | 0.36% | Shares |
| JANE STREET GROUP, LLC | $12,231,696 | 1,125,271 | 0.34% | Shares |
| RHUMBLINE ADVISERS | $11,185,227 | 1,029,004 | 0.31% | Shares |
| Glenmede Investment Management, LP | $11,060,791 | 826,666 | 0.31% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $11,054,790 | 1,017,000 | 0.31% | Shares |
| BRANDYWINE MANAGERS, LLC | $10,975,265 | 1,009,684 | 0.31% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $10,892,892 | 1,002,106 | 0.30% | Shares |
| Quantinno Capital Management LP | $10,843,404 | 997,553 | 0.30% | Shares |
| JPMORGAN CHASE & CO | $10,837,680 | 996,132 | 0.30% | Shares |
| BANK OF AMERICA CORP /DE/ | $10,702,266 | 984,569 | 0.30% | Shares |
| GLENMEDE TRUST CO NA | $10,528,497 | 968,583 | 0.29% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $10,490,224 | 965,062 | 0.29% | Shares |
| StepStone Group LP | $10,023,000 | 902,973 | 0.28% | Shares |
| WOLVERINE TRADING, LLC | $9,060,784 | 721,400 | 0.25% | Call option |
| Swiss National Bank | $8,764,481 | 806,300 | 0.24% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $8,563,756 | 787,834 | 0.24% | Shares |
| IMC-Chicago, LLC | $8,418,021 | 774,427 | 0.23% | Shares |
| FMR LLC | $8,286,875 | 762,362 | 0.23% | Shares |
| ALLIANCEBERNSTEIN L.P. | $8,249,931 | 743,237 | 0.23% | Shares |
| California Public Employees Retirement System | $8,088,628 | 744,124 | 0.23% | Shares |
| Clear Street Group Inc. | $7,880,522 | 724,979 | 0.22% | Shares |
| IEQ CAPITAL, LLC | $7,865,152 | 723,565 | 0.22% | Shares |
| STIFEL FINANCIAL CORP | $7,839,484 | 721,202 | 0.22% | Shares |
| HSBC HOLDINGS PLC | $7,822,269 | 726,639 | 0.22% | Shares |
| BARCLAYS PLC | $7,719,863 | 710,199 | 0.22% | Shares |
| Corient Private Wealth LP | $7,697,390 | 708,135 | 0.21% | Shares |
| Brevan Howard Capital Management LP | $7,473,603 | 687,544 | 0.21% | Shares |
| MILLENNIUM MANAGEMENT LLC | $7,052,880 | 648,839 | 0.20% | Shares |
| D.A. DAVIDSON & CO. | $6,880,297 | 632,962 | 0.19% | Shares |
| Engineers Gate Manager LP | $6,370,831 | 586,093 | 0.18% | Shares |
| MILLENNIUM MANAGEMENT LLC | $6,233,945 | 573,500 | 0.17% | Put option |
| Assenagon Asset Management S.A. | $6,006,903 | 552,613 | 0.17% | Shares |
| BW Gestao de Investimentos Ltda. | $5,971,119 | 549,321 | 0.17% | Shares |
| Walleye Trading LLC | $5,890,453 | 541,900 | 0.16% | Put option |
| 180 WEALTH ADVISORS, LLC | $5,662,090 | 520,891 | 0.16% | Shares |
| LPL Financial LLC | $5,529,993 | 508,739 | 0.15% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $5,511,106 | 496,496 | 0.15% | Shares |
| AVIVA PLC | $5,322,909 | 489,688 | 0.15% | Shares |
| Trexquant Investment LP | $5,312,136 | 488,697 | 0.15% | Shares |
| ALGERT GLOBAL LLC | $5,060,583 | 465,555 | 0.14% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $4,948,351 | 455,230 | 0.14% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $4,826,465 | 444,017 | 0.13% | Shares |
| Retirement Systems of Alabama | $4,801,551 | 441,725 | 0.13% | Shares |
| PEAK6 LLC | $4,759,190 | 437,828 | 0.13% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $4,723,527 | 434,547 | 0.13% | Shares |
| Nuveen, LLC | $4,620,326 | 425,053 | 0.13% | Shares |
| Toroso Investments, LLC | $4,244,944 | 258,996 | 0.12% | Shares |
| AMERIPRISE FINANCIAL INC | $4,242,203 | 390,267 | 0.12% | Shares |
| Alphadyne Asset Management LP | $4,187,124 | 385,200 | 0.12% | Put option |
| SIMPLEX TRADING, LLC | $4,112,534 | 378,338 | 0.11% | Shares |
| Baird Financial Group, Inc. | $4,072,956 | 374,697 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $4,059,891 | 373,495 | 0.11% | Shares |
| GROUP ONE TRADING LLC | $4,058,086 | 373,329 | 0.11% | Shares |
| Point72 Asset Management, L.P. | $4,009,258 | 368,837 | 0.11% | Shares |
| KEYBANK NATIONAL ASSOCIATION/OH | $3,816,079 | 351,065 | 0.11% | Shares |
| Circumference Group LLC | $3,804,500 | 350,000 | 0.11% | Shares |
| Point72 (DIFC) Ltd | $3,706,033 | 276,983 | 0.10% | Shares |
| WINTON GROUP Ltd | $3,648,885 | 335,684 | 0.10% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $3,471,248 | 319,342 | 0.10% | Shares |
| Hillsdale Investment Management Inc. | $3,358,504 | 308,970 | 0.09% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $3,299,958 | 303,584 | 0.09% | Shares |
| Waterfront Wealth Inc. | $3,279,417 | 280,772 | 0.09% | Shares |
| HERALD INVESTMENT MANAGEMENT Ltd | $3,217,601 | 296,280 | 0.09% | Shares |
| Amundi | $3,157,333 | 290,463 | 0.09% | Shares |
Company insiders 14 insiders · 4 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Daniel Dines | CEO and Chairman | Aug. 19, 2026 S | 26,491,238 | 0 | 1 | $-22,535,716 |
| Ashim Gupta | COO & CFO | July 1, 2026 F | 1,029,716 | 0 | 0 | $0 |
| Raghavendra Malpani | CPO & CTO | July 1, 2026 F | 596,106 | 0 | 0 | $0 |
| Brad Brubaker | GC & Chief Legal Officer | July 1, 2026 F | 828,906 | 0 | 0 | $0 |
| June Yang | Director | June 25, 2026 A | 78,346 | 0 | 0 | $0 |
| Philippe Botteri | Director | June 25, 2026 A | 3,180,064 | 0 | 0 | $0 |
| Michael Lawrence Gordon | Director | June 25, 2026 A | 194,639 | 0 | 0 | $0 |
| Rich Wong | Director | June 25, 2026 A | 89,663 | 0 | 0 | $0 |
| Daniel D. Springer | Director | June 25, 2026 A | 154,294 | 0 | 0 | $0 |
| Karenann K Terrell | Director | June 25, 2026 A | 100,292 | 0 | 0 | $0 |
| Carl M. Eschenbach | Director | Dec. 9, 2022 J | 342,036 | 0 | 0 | $0 |
| Laela Sturdy | Director | April 23, 2021 C | 13,662,543 | 0 | 0 | $0 |
| Thomas F Mendoza | Director | April 23, 2021 C | 1,611,120 | 0 | 0 | $0 |
| Hitesh Ramani | — | Aug. 14, 2026 S | 235,052 | 0 | 2 | $-831,250 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 99 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FTKI · First Trust Exchange-Traded Fund VI | 1.91% | 42,176 NS | June 30, 2026 | N-PORT |
| ROBT · First Trust Exchange-Traded Fund VI | 1.39% | 931,576 NS | June 30, 2026 | N-PORT |
| CLSE · Trust for Professional Managers | 1.26% | 657,903 NS | May 31, 2026 | N-PORT |
| BOTZ · Global X Funds | 1.09% | 3,471,937 NS | May 31, 2026 | N-PORT |
| RNIN · EA Series Trust | 1.06% | 157,589 NS | April 30, 2026 | N-PORT |
| LSEQ · Harbor ETF Trust | 0.69% | 10,278 NS | April 30, 2026 | N-PORT |
| VUSE · ETF Series Solutions | 0.65% | 384,787 NS | May 31, 2026 | N-PORT |
| FXL · First Trust Exchange-Traded AlphaDE… | 0.50% | 727,569 NS | April 30, 2026 | N-PORT |
| AGIQ · Tidal Trust I | 0.48% | 4,673 NS | May 31, 2026 | N-PORT |
| BTAL · AGF Investments Trust | 0.43% | 111,320 NS | June 30, 2026 | N-PORT |
| OASC · Unified Series Trust | 0.29% | 20,589 NS | May 31, 2026 | N-PORT |
| ITAN · EA Series Trust | 0.24% | 18,519 NS | May 29, 2026 | N-PORT |
| IGV · iShares Trust | 0.23% | 2,047,679 SH | Aug. 21, 2026 | Daily |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.23% | 62,331 SH | Aug. 21, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.20% | 365,886 SH | Aug. 21, 2026 | Daily |
| HDUS · Lattice Strategies Trust | 0.18% | 31,949 NS | April 30, 2026 | N-PORT |
| AIQ · Global X Funds | 0.18% | 1,685,136 NS | May 31, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.18% | 320,273 SH | Aug. 19, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.17% | 52,373 NS | April 30, 2026 | N-PORT |
| FAI · First Trust Exchange-Traded Fund II | 0.17% | 15,055 NS | June 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.14% | 89,090 NS | May 31, 2026 | N-PORT |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.13% | 689,102 SH | Aug. 19, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.13% | 49,126 NS | April 30, 2026 | N-PORT |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.12% | 61,772 NS | April 30, 2026 | N-PORT |
| FFF · Founder Funds Trust | 0.12% | 562 NS | June 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.12% | 5,439,976 SH | Aug. 19, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.12% | 70,509 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.11% | 205,217 SH | Aug. 21, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.11% | 1,515,265 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.11% | 14,799 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.11% | 243,855 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.11% | 46,592 SH | Aug. 21, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.11% | 2,056,055 NS | May 31, 2026 | N-PORT |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.10% | 83,743 SH | Aug. 21, 2026 | Daily |
| ISCB · iShares Trust | 0.10% | 17,928 SH | Aug. 21, 2026 | Daily |
| ISCG · iShares Trust | 0.10% | 60,429 SH | Aug. 21, 2026 | Daily |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 676,315 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.09% | 1,160,636 NS | May 31, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.09% | 48,940 SH | Aug. 21, 2026 | Daily |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 64,306 NS | April 30, 2026 | N-PORT |
| QGRO · AMERICAN CENTURY ETF TRUST | 0.09% | 168,425 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 173,446 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.09% | 7,092 NS | April 30, 2026 | N-PORT |
| SMMD · iShares Trust | 0.09% | 205,368 SH | Aug. 21, 2026 | Daily |
| UMDD · ProShares Trust | 0.08% | 2,066 NS | May 31, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.07% | 1,259,714 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.06% | 25,642 SH | Aug. 21, 2026 | Daily |
| IWS · iShares Trust | 0.06% | 596,332 SH | Aug. 21, 2026 | Daily |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.06% | 88,195 SH | Aug. 19, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.06% | 9,955,850 SH | Aug. 19, 2026 | Daily |