Parallel Advisors LLC Reduces Position in UiPath Inc. (NYSE:PATH)

Parallel Advisors LLC reduced its position in shares of UiPath Inc. (NYSE:PATH) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,436 shares of the healthcare company’s stock after selling 1,712 shares during the period. Parallel Advisors LLC’s holdings in UiPath were worth $1,033,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PATH. Mark Sheptoff Financial Planning LLC purchased a new position in UiPath in the fourth quarter valued at approximately $25,000. ORG Partners LLC grew its position in shares of UiPath by 875.6% in the 1st quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock valued at $27,000 after buying an additional 1,112 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in UiPath during the 2nd quarter worth $28,000. Lindbrook Capital LLC lifted its position in UiPath by 46.0% in the first quarter. Lindbrook Capital LLC now owns 2,027 shares of the healthcare company’s stock valued at $46,000 after acquiring an additional 639 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in UiPath by 40.2% in the first quarter. GAMMA Investing LLC now owns 2,204 shares of the healthcare company’s stock valued at $50,000 after acquiring an additional 632 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analysts Set New Price Targets

PATH has been the subject of several research reports. William Blair downgraded UiPath from an “outperform” rating to a “market perform” rating in a report on Thursday, May 30th. Bank of America raised their target price on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. TD Cowen reduced their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Evercore ISI raised their price objective on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets increased their target price on shares of UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, UiPath currently has a consensus rating of “Hold” and a consensus price target of $17.71.

UiPath Stock Performance

Shares of NYSE PATH opened at $12.48 on Tuesday. The company’s fifty day moving average is $12.11 and its two-hundred day moving average is $16.14. The firm has a market capitalization of $7.15 billion, a P/E ratio of -78.00 and a beta of 0.87. UiPath Inc. has a one year low of $10.37 and a one year high of $27.87.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The firm had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same period last year, the business posted ($0.09) EPS. UiPath’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

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.