Pallas Capital Advisors LLC Takes Position in UiPath Inc. (NYSE:PATH)

Pallas Capital Advisors LLC bought a new position in UiPath Inc. (NYSE:PATH) during the third quarter, HoldingsChannel reports. The firm bought 58,448 shares of the healthcare company’s stock, valued at approximately $729,000.

Several other hedge funds have also bought and sold shares of PATH. Wealth Enhancement Advisory Services LLC lifted its position in UiPath by 164.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 95,469 shares of the healthcare company’s stock valued at $1,222,000 after acquiring an additional 59,435 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of UiPath by 314.6% in the third quarter. Assenagon Asset Management S.A. now owns 679,651 shares of the healthcare company’s stock valued at $8,700,000 after purchasing an additional 515,728 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of UiPath by 1,103.9% during the third quarter. International Assets Investment Management LLC now owns 91,072 shares of the healthcare company’s stock valued at $1,166,000 after buying an additional 83,507 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in UiPath during the third quarter worth $877,000. Finally, Allspring Global Investments Holdings LLC raised its position in UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the healthcare company’s stock valued at $52,000 after buying an additional 2,274 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PATH shares. Evercore ISI upped their target price on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday, September 6th. Barclays boosted their target price on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. DA Davidson increased their price target on UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price objective on shares of UiPath in a research report on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.47.

UiPath Stock Down 0.8 %

NYSE PATH opened at $12.60 on Thursday. The company has a market cap of $6.93 billion, a PE ratio of -63.00 and a beta of 0.88. The firm’s 50-day simple moving average is $12.53 and its two-hundred day simple moving average is $13.92. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, topping the consensus estimate 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 company had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same period last year, the firm earned ($0.09) EPS. UiPath’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts anticipate that UiPath Inc. will post -0.23 EPS for the current year.

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the transaction, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.