Erste Asset Management GmbH Purchases New Position in UiPath Inc. (NYSE:PATH)

Erste Asset Management GmbH bought a new stake in shares of UiPath Inc. (NYSE:PATH - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 244,432 shares of the company's stock, valued at approximately $3,129,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Comerica Bank increased its position in UiPath by 226.5% during the 1st quarter. Comerica Bank now owns 25,154 shares of the company's stock valued at $570,000 after buying an additional 17,451 shares in the last quarter. Cetera Investment Advisers raised its position in shares of UiPath by 315.6% in the 1st quarter. Cetera Investment Advisers now owns 67,782 shares of the company's stock worth $1,537,000 after purchasing an additional 51,472 shares during the last quarter. Cetera Advisors LLC boosted its stake in UiPath by 93.5% in the 1st quarter. Cetera Advisors LLC now owns 19,706 shares of the company's stock worth $447,000 after purchasing an additional 9,522 shares in the last quarter. CWM LLC grew its position in UiPath by 13.9% during the 2nd quarter. CWM LLC now owns 17,877 shares of the company's stock valued at $227,000 after purchasing an additional 2,185 shares during the last quarter. Finally, Warther Private Wealth LLC increased its stake in UiPath by 83.3% during the 2nd quarter. Warther Private Wealth LLC now owns 438,200 shares of the company's stock valued at $5,556,000 after purchasing an additional 199,200 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Insider Activity

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the sale, the chief financial officer now owns 849,917 shares of the company's stock, valued at $10,258,498.19. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 22.37% of the company's stock.

UiPath Trading Down 1.0 %

Shares of PATH traded down $0.14 during trading hours on Tuesday, reaching $14.38. 7,218,767 shares of the stock traded hands, compared to its average volume of 9,460,876. The company has a market cap of $7.91 billion, a P/E ratio of -71.90 and a beta of 0.94. The company's 50-day moving average price is $12.93 and its two-hundred day moving average price is $12.87. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87.

UiPath (NYSE:PATH - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The firm had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The business's quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts forecast that UiPath Inc. will post -0.23 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PATH shares. BMO Capital Markets increased their price target on shares of UiPath from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Friday, September 6th. Wells Fargo & Company cut their target price on UiPath from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 23rd. Needham & Company LLC restated a "hold" rating on shares of UiPath in a research note on Wednesday, October 23rd. Barclays increased their price objective on UiPath from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Friday, September 6th. Finally, Evercore ISI boosted their target price on UiPath from $13.00 to $16.00 and gave the stock an "in-line" rating in a research report on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.47.

UiPath 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.