Chicago Partners Investment Group LLC bought a new position in UiPath, Inc. (NYSE:PATH – Free Report) during the third quarter, Holdings Channel reports. The institutional investor bought 469,188 shares of the company’s stock, valued at approximately $6,630,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of UiPath by 7.2% during the second 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 last quarter. Squarepoint Ops LLC lifted its holdings in shares of UiPath by 8,065.7% in the 2nd quarter. Squarepoint Ops LLC now owns 1,497,555 shares of the company’s stock worth $16,278,000 after purchasing an additional 1,516,355 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in 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 period. Bank of America Corp DE boosted its position in UiPath by 13.2% during the 1st quarter. Bank of America Corp DE now owns 10,046,699 shares of the company’s stock valued at $111,518,000 after purchasing an additional 1,170,285 shares during the period. Finally, Corient Private Wealth LP grew its stake in 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 buying an additional 566,074 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at UiPath
In other UiPath news, COO Ashim Gupta sold 117,339 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $13.85, for a total transaction of $1,625,145.15. Following the sale, the chief operating officer directly owned 2,037,377 shares in the company, valued at approximately $28,217,671.45. The trade was a 5.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Raghavendra Malpani sold 40,464 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $14.00, for a total transaction of $566,496.00. Following the completion of the sale, the insider directly owned 1,582,213 shares of the company’s stock, valued at approximately $22,150,982. This represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,962,735 shares of company stock worth $43,584,098. 22.44% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating on shares of UiPath in a research report on Friday, September 4th. BMO Capital Markets reduced their price target 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 restated a “hold” rating and set a $16.00 price target on shares of UiPath in a research report on Wednesday, September 23rd. DA Davidson cut shares of UiPath from a “neutral” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a report on Monday, September 28th. Finally, KeyCorp reiterated a “sector weight” rating on shares of UiPath in a research report on Thursday, September 24th. Four equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, UiPath currently has a consensus rating of “Hold” and a consensus target price of $15.69.
UiPath Stock Performance
NYSE:PATH opened at $12.99 on Friday. UiPath, Inc. has a 1 year low of $9.20 and a 1 year high of $19.84. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.27 and a beta of 1.04. The business has a fifty day moving average of $14.04 and a 200-day moving average of $12.40.
UiPath (NYSE:PATH – Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. UiPath had a net margin of 21.03% and a return on equity of 9.70%. The business had revenue of $410.26 million for the quarter, compared to analysts’ expectations of $397.77 million. During the same period in the previous year, the business earned $0.15 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts predict that UiPath, Inc. will post 0.49 EPS for the current year.
UiPath Company Profile
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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