Clearline Capital LP Acquires New Position in UiPath Inc. (NYSE:PATH)

Clearline Capital LP bought a new position in shares of UiPath Inc. (NYSE:PATH) in the second quarter, Holdings Channel.com reports. The firm bought 142,000 shares of the healthcare company’s stock, valued at approximately $1,801,000.

Several other large investors have also recently modified their holdings of PATH. Vanguard Group Inc. boosted its holdings in UiPath by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after buying an additional 2,133,078 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of UiPath by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 295,370 shares of the healthcare company’s stock valued at $6,696,000 after purchasing an additional 1,571 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of UiPath by 4.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 231,694 shares of the healthcare company’s stock valued at $5,240,000 after purchasing an additional 9,393 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of UiPath by 3,389.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 89,189 shares of the healthcare company’s stock valued at $1,131,000 after purchasing an additional 86,633 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in UiPath by 245.1% during the 1st quarter. Acadian Asset Management LLC now owns 45,700 shares of the healthcare company’s stock worth $1,032,000 after purchasing an additional 32,456 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Trading Up 1.7 %

Shares of UiPath stock opened at $12.80 on Friday. The firm has a market capitalization of $7.04 billion, a PE ratio of -80.00 and a beta of 0.87. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The business’s 50-day moving average price is $12.16 and its 200-day moving average price is $15.49.

UiPath (NYSE:PATH) last issued its quarterly earnings results 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 business 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 period last year, the business earned ($0.09) earnings per share. As a group, analysts predict that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Cowen decreased their price target on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Macquarie lowered shares of UiPath from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $12.00 in a report on Monday, June 3rd. Bank of America raised their price target on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company boosted their price target 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. Finally, DA Davidson increased their price objective on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.71.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. 22.37% of the stock is owned by insiders.

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.