Raymond James Financial Inc. Purchases 253,113 Shares of UiPath, Inc. $PATH

Raymond James Financial Inc. lifted its position in shares of UiPath, Inc. (NYSE:PATH) by 58.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 686,278 shares of the company’s stock after buying an additional 253,113 shares during the period. Raymond James Financial Inc. owned about 0.12% of UiPath worth $7,069,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cowa LLC grew its position in UiPath by 25.6% during the first quarter. Cowa LLC now owns 40,616 shares of the company’s stock valued at $418,000 after acquiring an additional 8,286 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of UiPath by 20.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,347,586 shares of the company’s stock valued at $14,079,000 after purchasing an additional 228,812 shares in the last quarter. Independent Advisor Alliance bought a new position in shares of UiPath during the 1st quarter valued at $118,000. Nuveen LLC purchased a new position in UiPath in the 1st quarter worth $10,503,000. Finally, Invesco Ltd. lifted its stake in UiPath by 18.8% in the first quarter. Invesco Ltd. now owns 454,849 shares of the company’s stock worth $4,685,000 after purchasing an additional 72,049 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling at UiPath

In related news, CFO Ashim Gupta sold 56,322 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $12.72, for a total value of $716,415.84. Following the completion of the transaction, the chief financial officer directly owned 859,991 shares of the company’s stock, valued at $10,939,085.52. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Dines sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $12.43, for a total transaction of $559,350.00. Following the completion of the sale, the chief executive officer owned 5,058,376 shares of the company’s stock, valued at $62,875,613.68. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 831,310 shares of company stock valued at $10,428,922 over the last 90 days. Company insiders own 23.19% of the company’s stock.

UiPath Stock Performance

PATH opened at $10.92 on Wednesday. The stock has a market capitalization of $5.84 billion, a PE ratio of -90.95, a price-to-earnings-growth ratio of 14.57 and a beta of 1.02. The stock’s 50 day moving average price is $11.85 and its 200-day moving average price is $11.90. UiPath, Inc. has a 52-week low of $9.38 and a 52-week high of $15.93.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of UiPath in a research note on Friday, May 30th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Friday, May 30th. Truist Financial raised their price target on UiPath from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Royal Bank Of Canada boosted their price objective on UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a research report on Friday, May 30th. Finally, Canaccord Genuity Group set a $16.00 price objective on UiPath and gave the company a “buy” rating in a research note on Monday, June 2nd. Two analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.83.

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.