Traynor Capital Management Inc. Acquires New Stake in UiPath Inc. (NYSE:PATH)

Traynor Capital Management Inc. acquired a new stake in shares of UiPath Inc. (NYSE:PATH) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,758 shares of the healthcare company’s stock, valued at approximately $516,000.

Several other large investors also recently added to or reduced their stakes in the business. Renaissance Capital LLC boosted its stake in UiPath by 3.0% during the first quarter. Renaissance Capital LLC now owns 250,295 shares of the healthcare company’s stock valued at $5,674,000 after buying an additional 7,269 shares during the period. GAMMA Investing LLC boosted its stake in UiPath by 40.2% during the first quarter. GAMMA Investing LLC now owns 2,204 shares of the healthcare company’s stock valued at $50,000 after buying an additional 632 shares during the period. Quadrature Capital Ltd boosted its stake in UiPath by 94.4% during the fourth quarter. Quadrature Capital Ltd now owns 253,112 shares of the healthcare company’s stock valued at $6,289,000 after buying an additional 122,931 shares during the period. PNC Financial Services Group Inc. raised its position in UiPath by 50.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,135 shares of the healthcare company’s stock valued at $475,000 after purchasing an additional 6,385 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in UiPath by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock valued at $946,028,000 after purchasing an additional 334,085 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

UiPath Stock Performance

Shares of NYSE:PATH opened at $12.02 on Tuesday. The stock’s 50-day moving average is $16.71 and its 200 day moving average is $21.10. UiPath Inc. has a 1 year low of $11.07 and a 1 year high of $27.87.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The firm had revenue of $335.11 million for the quarter, compared to analysts’ expectations of $332.84 million. As a group, analysts forecast that UiPath Inc. will post -0.2 EPS for the current fiscal year.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the sale, the chief financial officer now directly owns 946,848 shares of the company’s stock, valued at approximately $18,738,121.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 22.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PATH shares. JPMorgan Chase & Co. lowered their price target on UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. William Blair downgraded UiPath from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 30th. Wells Fargo & Company lowered their price target on UiPath from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday. Morgan Stanley lowered their price target on UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Finally, BMO Capital Markets decreased their price objective on UiPath from $28.00 to $14.00 and set a “market perform” rating on the stock in a report on Monday, June 3rd. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, UiPath currently has a consensus rating of “Hold” and a consensus price target of $18.06.

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.