Versor Investments LP Invests $266,000 in UiPath Inc. (NYSE:PATH)

Versor Investments LP purchased a new stake in shares of UiPath Inc. (NYSE:PATH) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,800 shares of the healthcare company’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in shares of UiPath during the 2nd quarter valued at $69,180,000. Vanguard Group Inc. lifted its position in UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after acquiring an additional 2,133,078 shares during the period. Renaissance Technologies LLC purchased a new position in UiPath during the 2nd quarter valued at about $13,280,000. AQR Capital Management LLC grew its holdings in UiPath by 120.6% in the second quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company’s stock worth $20,385,000 after purchasing an additional 892,845 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of UiPath by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock valued at $35,296,000 after purchasing an additional 754,519 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PATH. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, September 6th. Evercore ISI increased their target price on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Bank of America lifted their price target on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price objective on shares of UiPath in a research report on Friday, September 6th. Finally, BMO Capital Markets lifted their target price on shares of UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, UiPath has a consensus rating of “Hold” and a consensus price target of $17.47.

UiPath Stock Performance

PATH stock opened at $12.37 on Friday. The company has a market cap of $6.80 billion, a price-to-earnings ratio of -61.85 and a beta of 0.87. The business’s 50-day moving average is $12.61 and its two-hundred day moving average is $13.38. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87.

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

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was 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. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.37% of the company’s stock.

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.