Ontario Teachers Pension Plan Board Buys 62,650 Shares of UiPath Inc. (NYSE:PATH)

Ontario Teachers Pension Plan Board lifted its position in UiPath Inc. (NYSE:PATH - Free Report) by 136.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,725 shares of the company's stock after buying an additional 62,650 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in UiPath were worth $1,392,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PATH. Future Financial Wealth Managment LLC bought a new position in shares of UiPath during the 3rd quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new position in UiPath during the third quarter worth $26,000. Hantz Financial Services Inc. acquired a new position in shares of UiPath in the second quarter valued at $28,000. Redwood Wealth Management Group LLC bought a new position in shares of UiPath in the second quarter valued at about $43,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of 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 during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PATH shares. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a report on Wednesday, October 23rd. Barclays increased their target price on UiPath from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Friday, September 6th. TD Cowen decreased their price objective on UiPath from $17.00 to $16.00 and set a "hold" rating on the stock in a report on Friday, September 6th. DA Davidson increased their price objective on UiPath from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $15.00 target price on shares of UiPath in a research report on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, UiPath currently has a consensus rating of "Hold" and an average price target of $17.47.

UiPath Price Performance

PATH traded up $0.78 during trading on Thursday, hitting $13.65. 9,436,409 shares of the stock traded hands, compared to its average volume of 9,495,060. The business has a 50 day moving average price of $12.68 and a 200 day moving average price of $13.25. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87. The company has a market cap of $7.51 billion, a price-to-earnings ratio of -68.25 and a beta of 0.87.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.04 EPS 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 company had revenue of $316.00 million during the quarter, compared to analysts' expectations of $303.69 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. UiPath's revenue was up 10.0% on a year-over-year basis. On average, equities research analysts predict that UiPath Inc. will post -0.23 earnings per share for the current year.

Insider Activity

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

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.