220,710 Shares in UiPath Inc. (NYSE:PATH) Acquired by Algert Global LLC

Algert Global LLC bought a new position in shares of UiPath Inc. (NYSE:PATH - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 220,710 shares of the company's stock, valued at approximately $2,825,000.

Other institutional investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in UiPath during the third quarter worth $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in UiPath in the 3rd quarter valued at about $26,000. Hantz Financial Services Inc. acquired a new stake in UiPath in the 2nd quarter worth about $28,000. Redwood Wealth Management Group LLC purchased a new stake in UiPath during the 2nd quarter worth approximately $43,000. Finally, Allspring Global Investments Holdings LLC increased its stake in UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company's stock worth $52,000 after buying an additional 2,274 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PATH shares. TD Cowen lowered their price target on UiPath from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Friday, September 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $16.00 target price on shares of UiPath in a report on Friday, September 6th. DA Davidson raised their price target on shares of UiPath from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Needham & Company LLC restated a "hold" rating on shares of UiPath in a research report on Wednesday, October 23rd. Finally, Bank of America increased their price objective on shares of UiPath from $16.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $17.47.

UiPath Price Performance

Shares of NYSE:PATH traded down $0.09 during midday trading on Wednesday, reaching $14.09. 5,622,394 shares of the company's stock were exchanged, compared to its average volume of 9,492,401. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of -70.40 and a beta of 0.87. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The firm's 50 day simple moving average is $12.79 and its two-hundred day simple moving average is $13.04.

UiPath (NYSE:PATH - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to analysts' expectations of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. UiPath's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the business posted ($0.09) EPS. Equities research analysts predict that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the sale, the chief financial officer now directly owns 849,917 shares of the company's stock, valued at approximately $10,258,498.19. This represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 22.37% of the stock is currently owned by company insiders.

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.