Vanguard Group Inc. Grows Stake in UiPath, Inc. (NYSE:PATH)

Vanguard Group Inc. grew its position in shares of UiPath, Inc. (NYSE:PATH) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,061,096 shares of the company’s stock after purchasing an additional 1,396,972 shares during the period. Vanguard Group Inc. owned approximately 8.71% of UiPath worth $495,029,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of UiPath by 198.6% during the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company’s stock valued at $31,000 after purchasing an additional 1,970 shares in the last quarter. CX Institutional purchased a new position in shares of UiPath during the 1st quarter valued at $36,000. True Wealth Design LLC grew its position in shares of UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after purchasing an additional 801 shares in the last quarter. MRP Capital Investments LLC purchased a new position in shares of UiPath during the 1st quarter valued at $82,000. Finally, Meeder Advisory Services Inc. bought a new stake in shares of UiPath during the 1st quarter worth $105,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PATH shares. Royal Bank Of Canada lifted their price objective on shares of UiPath from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Friday, May 30th. Truist Financial lifted their price objective on shares of UiPath from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Friday, May 30th. BMO Capital Markets lifted their price objective on shares of UiPath from $11.50 to $15.50 and gave the stock a “market perform” rating in a report on Friday, May 30th. Finally, Barclays reaffirmed an “equal weight” rating on shares of UiPath in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.83.

UiPath Stock Down 2.5%

UiPath stock opened at $10.72 on Friday. The firm has a fifty day simple moving average of $12.26 and a two-hundred day simple moving average of $12.22. UiPath, Inc. has a twelve month low of $9.38 and a twelve month high of $15.93. The company has a market capitalization of $5.73 billion, a PE ratio of -89.29, a P/E/G ratio of 14.40 and a beta of 1.03.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The company had revenue of $356.62 million for the quarter, compared to analysts’ expectations of $332.17 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. UiPath’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities analysts expect that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other UiPath news, CEO Daniel Dines sold 9,988 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $12.00, for a total value of $119,856.00. Following the sale, the chief executive officer owned 4,598,388 shares in the company, valued at approximately $55,180,656. This represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 831,310 shares of company stock valued at $10,428,922 in the last 90 days. 23.19% of the stock is currently owned by corporate insiders.

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.