VestGen Advisors LLC increased its holdings in shares of UiPath, Inc. (NYSE:PATH – Free Report) by 1,090.1% during the third quarter, HoldingsChannel.com reports. The fund owned 165,091 shares of the company’s stock after buying an additional 151,219 shares during the quarter. VestGen Advisors LLC’s holdings in UiPath were worth $2,120,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its stake in UiPath by 7.2% in the 2nd quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock valued at $501,684,000 after purchasing an additional 3,097,822 shares during the period. Squarepoint Ops LLC increased its position in shares of UiPath by 8,065.7% during the 2nd quarter. Squarepoint Ops LLC now owns 1,497,555 shares of the company’s stock valued at $16,278,000 after purchasing an additional 1,516,355 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of UiPath by 26.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,831,288 shares of the company’s stock valued at $75,818,000 after purchasing an additional 1,437,843 shares during the last quarter. Bank of America Corp DE raised its stake in shares of UiPath by 13.2% during the 1st quarter. Bank of America Corp DE now owns 10,046,699 shares of the company’s stock worth $111,518,000 after purchasing an additional 1,170,285 shares during the period. Finally, Corient Private Wealth LP raised its stake in shares of UiPath by 398.4% during the 2nd quarter. Corient Private Wealth LP now owns 708,146 shares of the company’s stock worth $7,698,000 after purchasing an additional 566,074 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.
Insider Buying and Selling at UiPath
In other UiPath news, COO Ashim Gupta sold 66,052 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $13.17, for a total transaction of $869,904.84. Following the sale, the chief operating officer directly owned 1,902,434 shares of the company’s stock, valued at $25,055,055.78. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Raghavendra Malpani sold 29,565 shares of the stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $14.00, for a total transaction of $413,910.00. Following the transaction, the insider owned 1,484,716 shares of the company’s stock, valued at $20,786,024. This represents a 1.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,962,735 shares of company stock valued at $43,584,098 in the last three months. 22.44% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
PATH has been the topic of a number of research analyst reports. Canaccord Genuity Group cut their price target on shares of UiPath from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, September 24th. Citigroup began coverage on shares of UiPath in a research report on Tuesday, September 8th. They set a “buy” rating and a $23.00 price target for the company. BMO Capital Markets decreased their price objective on shares of UiPath from $18.00 to $15.00 and set a “market perform” rating for the company in a report on Thursday, September 24th. TD Cowen reaffirmed a “hold” rating and issued a $16.00 price objective on shares of UiPath in a research report on Wednesday, September 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of UiPath in a research report on Wednesday, September 23rd. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.69.
Read Our Latest Stock Analysis on PATH
UiPath Price Performance
Shares of PATH opened at $13.75 on Friday. UiPath, Inc. has a 1 year low of $9.20 and a 1 year high of $19.84. The stock’s fifty day moving average price is $14.35 and its two-hundred day moving average price is $12.45. The firm has a market cap of $7.17 billion, a PE ratio of 20.52, a PEG ratio of 1.33 and a beta of 1.01.
UiPath (NYSE:PATH – Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. UiPath had a return on equity of 9.70% and a net margin of 21.03%. The company had revenue of $410.26 million during the quarter, compared to the consensus estimate of $397.77 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts anticipate that UiPath, Inc. will post 0.49 earnings per share for the current fiscal year.
About UiPath
UiPath, Inc develops enterprise automation software that helps organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation with artificial intelligence, workflow orchestration, process mining, document processing and application integration capabilities.
The company’s products are designed to support the discovery, development, deployment and management of software robots and AI-powered automations across functions such as finance, customer service, human resources, information technology and operations.
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