Cerity Partners LLC Has $1.88 Million Stock Position in UiPath Inc. (NYSE:PATH)

Cerity Partners LLC grew its position in shares of UiPath Inc. (NYSE:PATH) by 524.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 146,900 shares of the company’s stock after acquiring an additional 123,380 shares during the period. Cerity Partners LLC’s holdings in UiPath were worth $1,880,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PATH. Ontario Teachers Pension Plan Board boosted its holdings in UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after acquiring an additional 62,650 shares during the period. LMR Partners LLP bought a new position in shares of UiPath in the third quarter valued at approximately $561,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of UiPath by 164.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 95,469 shares of the company’s stock valued at $1,222,000 after buying an additional 59,435 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in UiPath by 3,389.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 89,189 shares of the company’s stock valued at $1,131,000 after buying an additional 86,633 shares during the last quarter. Finally, Armistice Capital LLC lifted its position in UiPath by 94.9% during the 2nd quarter. Armistice Capital LLC now owns 726,520 shares of the company’s stock valued at $9,212,000 after purchasing an additional 353,781 shares during the period. 62.50% of the stock is currently owned by institutional investors.

UiPath Price Performance

Shares of UiPath stock opened at $14.52 on Tuesday. The business’s 50 day simple moving average is $12.90 and its two-hundred day simple moving average is $12.91. The stock has a market capitalization of $7.99 billion, a P/E ratio of -72.60 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 announced its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts expect that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the completion of the sale, the chief financial officer now owns 849,917 shares in the company, valued at approximately $10,258,498.19. This represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PATH. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. Barclays raised their price target on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price on shares of UiPath in a research note on Friday, September 6th. BMO Capital Markets lifted their price objective 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. Finally, TD Cowen reduced their price objective on UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.47.

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.