Cerity Partners LLC lifted its holdings in shares of UiPath Inc. (NYSE:PATH - Free Report) by 524.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,900 shares of the company's stock after buying an additional 123,380 shares during the period. Cerity Partners LLC's holdings in UiPath were worth $1,880,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in PATH. Future Financial Wealth Managment LLC acquired a new position in UiPath during the third quarter worth about $26,000. JTC Employer Solutions Trustee Ltd acquired a new position in shares of UiPath during the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. purchased a new stake in UiPath in the 2nd quarter valued at approximately $28,000. Redwood Wealth Management Group LLC acquired a new stake in UiPath during the 2nd quarter valued at $43,000. Finally, Allspring Global Investments Holdings LLC increased its position in UiPath by 124.7% during the third 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 hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on PATH. Evercore ISI lifted their price target on shares of UiPath from $13.00 to $16.00 and gave the stock an "in-line" rating in a report on Friday, September 6th. TD Cowen reduced 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. BMO Capital Markets lifted their price objective on UiPath from $14.00 to $15.00 and gave the company a "market perform" rating in a research report on Friday, September 6th. DA Davidson lifted their price target on UiPath from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Friday, September 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $16.00 price objective on shares of UiPath 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 stock. According to data from MarketBeat.com, UiPath presently has an average rating of "Hold" and a consensus target price of $17.47.
View Our Latest Stock Analysis on PATH
UiPath Stock Performance
Shares of NYSE:PATH traded down $0.14 during mid-day trading on Tuesday, hitting $14.38. 7,218,767 shares of the company traded hands, compared to its average volume of 9,460,876. The firm has a market cap of $7.91 billion, a P/E ratio of -71.90 and a beta of 0.94. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87. The firm's 50 day simple moving average is $12.93 and its 200 day simple moving average is $12.87.
UiPath (NYSE:PATH - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The business's quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts expect that UiPath Inc. will post -0.23 EPS for the current fiscal year.
Insider Transactions at UiPath
In other news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares of the company's stock, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.37% of the company's stock.
About UiPath
(
Free Report)
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.
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