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

Algert Global LLC bought a new position in UiPath Inc. (NYSE:PATH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 220,710 shares of the company’s stock, valued at approximately $2,825,000.

A number of other hedge funds also recently made changes to their positions in PATH. Future Financial Wealth Managment LLC acquired a new stake in shares of UiPath during the 3rd quarter valued at $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of UiPath during the third quarter worth about $26,000. Hantz Financial Services Inc. acquired a new position in shares of UiPath in the second quarter valued at approximately $28,000. Redwood Wealth Management Group LLC bought a new position in UiPath in the 2nd quarter valued at approximately $43,000. Finally, Allspring Global Investments Holdings LLC boosted its position in UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock worth $52,000 after buying an additional 2,274 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PATH has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. DA Davidson upped 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. Evercore ISI raised their price objective on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, UiPath has an average rating of “Hold” and an average price target of $17.47.

Insider Buying and Selling

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 transaction, the chief financial officer now owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.37% of the stock is owned by company insiders.

UiPath Trading Down 2.1 %

NYSE:PATH opened at $14.19 on Wednesday. The firm has a fifty day simple moving average of $12.75 and a two-hundred day simple moving average of $13.08. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of -70.95 and a beta of 0.87.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $316.00 million for the quarter, compared to the consensus estimate of $303.69 million. During the same period in the prior year, the business earned ($0.09) EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts predict that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

UiPath Company 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.