Quest Partners LLC Boosts Holdings in UiPath Inc. (NYSE:PATH)

Quest Partners LLC lifted its stake in shares of UiPath Inc. (NYSE:PATH) by 181.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,756 shares of the company’s stock after acquiring an additional 17,893 shares during the period. Quest Partners LLC’s holdings in UiPath were worth $355,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PATH. Future Financial Wealth Managment LLC purchased a new position in UiPath during the third quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of UiPath during the 3rd quarter worth $26,000. Hantz Financial Services Inc. purchased a new position in shares of UiPath in the 2nd quarter worth $28,000. Advisors Asset Management Inc. boosted its holdings in UiPath by 35.0% in the first quarter. Advisors Asset Management Inc. now owns 3,037 shares of the company’s stock valued at $69,000 after acquiring an additional 787 shares during the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new stake in UiPath during the second quarter worth about $43,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and set a $15.00 target price on shares of UiPath in a report on Friday, September 6th. Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their target price on shares of UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Wednesday, October 23rd. Finally, Bank of America boosted their price objective on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.47.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction dated 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 directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.37% of the stock is currently owned by company insiders.

UiPath Price Performance

Shares of PATH stock opened at $14.24 on Monday. The firm has a fifty day moving average of $12.71 and a two-hundred day moving average of $13.11. The firm has a market cap of $7.83 billion, a P/E ratio of -71.20 and a beta of 0.87. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $27.87.

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