Pathstone Holdings LLC Has $1.97 Million Position in UiPath Inc. (NYSE:PATH)

Pathstone Holdings LLC boosted its holdings in shares of UiPath Inc. (NYSE:PATH) by 8.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 153,617 shares of the company’s stock after acquiring an additional 11,427 shares during the period. Pathstone Holdings LLC’s holdings in UiPath were worth $1,966,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PATH. Pacer Advisors Inc. acquired a new stake in shares of UiPath during the second quarter worth $69,180,000. Dimensional Fund Advisors LP increased its stake in shares of UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock valued at $35,296,000 after acquiring an additional 754,519 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of UiPath by 20.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the company’s stock valued at $32,371,000 after acquiring an additional 439,344 shares during the period. AQR Capital Management LLC boosted its stake in UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the company’s stock worth $20,385,000 after acquiring an additional 892,845 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in UiPath by 2.7% during the second quarter. Ieq Capital LLC now owns 1,446,816 shares of the company’s stock valued at $18,346,000 after purchasing an additional 37,642 shares during the period. Institutional investors own 62.50% of the company’s stock.

Insider Activity at UiPath

In related 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. DA Davidson increased their target price on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 target price on shares of UiPath in a report on Friday, September 6th. Barclays increased their price target on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. TD Cowen cut their price objective on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Finally, BMO Capital Markets boosted their price objective on UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.47.

UiPath Price Performance

UiPath stock opened at $14.19 on Wednesday. The company has a market cap of $7.80 billion, a price-to-earnings ratio of -70.90 and a beta of 0.87. The firm has a 50-day moving average of $12.75 and a 200-day moving average of $13.08. UiPath Inc. has a one year low of $10.37 and a one year high of $27.87.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The firm had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $303.69 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that UiPath Inc. will post -0.23 earnings per share 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.