Algert Global LLC Acquires Shares of 220,710 UiPath Inc. (NYSE:PATH)

Algert Global LLC bought a new position in UiPath Inc. (NYSE:PATH) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 220,710 shares of the company’s stock, valued at approximately $2,825,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its position in shares of UiPath by 11.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 18,848 shares of the company’s stock valued at $427,000 after acquiring an additional 1,982 shares during the last quarter. Advisors Asset Management Inc. lifted its stake 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 purchasing an additional 787 shares during the last quarter. Lazard Asset Management LLC grew its holdings in UiPath by 16,741.9% during the first quarter. Lazard Asset Management LLC now owns 5,221 shares of the company’s stock valued at $118,000 after purchasing an additional 5,190 shares during the period. Tidal Investments LLC increased its position in UiPath by 76.0% in the first quarter. Tidal Investments LLC now owns 117,357 shares of the company’s stock worth $2,660,000 after buying an additional 50,675 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of UiPath by 226.5% in the first quarter. Comerica Bank now owns 25,154 shares of the company’s stock valued at $570,000 after buying an additional 17,451 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction 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 $10,258,498.19. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 22.37% of the stock is owned by insiders.

UiPath Stock Performance

NYSE PATH opened at $14.19 on Wednesday. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87. The company has a fifty day moving average of $12.75 and a 200-day moving average of $13.08. The company has a market capitalization of $7.80 billion, a P/E ratio of -70.95 and a beta of 0.87.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) earnings per share. As a group, analysts forecast that UiPath Inc. will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PATH. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Wednesday, October 23rd. DA Davidson boosted their price target on shares of UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, September 6th. Bank of America increased their target price on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company reduced their price target on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.47.

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.