Caitong International Asset Management Co. Ltd Purchases New Shares in UiPath, Inc. $PATH

Caitong International Asset Management Co. Ltd acquired a new stake in shares of UiPath, Inc. (NYSE:PATH) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 129,219 shares of the company’s stock, valued at approximately $1,729,000. UiPath makes up 1.2% of Caitong International Asset Management Co. Ltd’s portfolio, making the stock its 12th largest position.

Other hedge funds have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of UiPath in the second quarter valued at about $28,000. Covestor Ltd boosted its holdings in UiPath by 17.7% during the third quarter. Covestor Ltd now owns 6,522 shares of the company’s stock worth $87,000 after purchasing an additional 981 shares during the last quarter. CX Institutional grew its position in UiPath by 37.4% in the 3rd quarter. CX Institutional now owns 6,888 shares of the company’s stock worth $92,000 after purchasing an additional 1,874 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in UiPath by 1,400.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 7,500 shares of the company’s stock valued at $100,000 after buying an additional 7,000 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in UiPath by 507.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 7,502 shares of the company’s stock valued at $100,000 after buying an additional 6,266 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Trading Up 3.4%

Shares of NYSE PATH opened at $11.97 on Wednesday. The stock has a fifty day simple moving average of $12.77 and a two-hundred day simple moving average of $14.03. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $19.84. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 2.17 and a beta of 1.09.

UiPath (NYSE:PATH) last issued its earnings results on Wednesday, March 11th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $481.11 million for the quarter, compared to analyst estimates of $464.81 million. UiPath had a return on equity of 5.69% and a net margin of 17.53%.The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. Analysts forecast that UiPath, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

PATH has been the topic of a number of research analyst reports. Barclays boosted their target price on UiPath from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Needham & Company LLC raised UiPath from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Thursday, March 12th. Bank of America reduced their price objective on UiPath from $14.00 to $12.00 and set an “underperform” rating for the company in a research note on Thursday, March 12th. William Blair reiterated a “hold” rating on shares of UiPath in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada set a $14.00 price target on shares of UiPath in a report on Wednesday, February 11th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, UiPath has an average rating of “Hold” and an average target price of $14.07.

Insider Buying and Selling

In other news, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction on Monday, January 26th. The stock was sold at an average price of $15.01, for a total value of $675,450.00. Following the completion of the transaction, the chief executive officer directly owned 27,893,585 shares in the company, valued at approximately $418,682,710.85. The trade was a 0.16% 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 the SEC website. Also, CFO Ashim Gupta sold 67,468 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $16.10, for a total value of $1,086,234.80. Following the sale, the chief financial officer owned 557,028 shares in the company, valued at approximately $8,968,150.80. The trade was a 10.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 697,468 shares of company stock worth $11,358,835 over the last 90 days. 23.19% of the stock is currently owned by corporate insiders.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.