Armistice Capital LLC Purchases 353,781 Shares of UiPath Inc. (NYSE:PATH)

Armistice Capital LLC increased its position in UiPath Inc. (NYSE:PATH) by 94.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 726,520 shares of the healthcare company’s stock after purchasing an additional 353,781 shares during the quarter. Armistice Capital LLC’s holdings in UiPath were worth $9,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after buying an additional 2,133,078 shares during the period. Pacer Advisors Inc. bought a new position in shares of UiPath in the 2nd quarter worth about $69,180,000. Dimensional Fund Advisors LP lifted its position in UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock valued at $35,296,000 after acquiring an additional 754,519 shares during the period. Bank of New York Mellon Corp boosted its stake in UiPath by 20.8% during the second quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the healthcare company’s stock worth $32,371,000 after acquiring an additional 439,344 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in UiPath in the fourth quarter worth about $48,267,000. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PATH. Barclays boosted their price target on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, September 6th. Macquarie cut UiPath from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $12.00 in a research note on Monday, June 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Friday, September 6th. Finally, Wells Fargo & Company increased their price objective on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, UiPath currently has an average rating of “Hold” and a consensus target price of $17.71.

UiPath Stock Down 3.6 %

PATH opened at $12.48 on Thursday. The firm has a 50 day moving average price of $12.13 and a 200-day moving average price of $15.66. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of -78.00 and a beta of 0.87. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. UiPath’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) earnings per share. As a group, analysts expect that UiPath Inc. will post -0.23 earnings per share for the current year.

Insider Activity

In related news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 22.37% of the company’s stock.

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.