Edgestream Partners L.P. Takes Position in UiPath Inc. (NYSE:PATH)

Edgestream Partners L.P. bought a new stake in shares of UiPath Inc. (NYSE:PATH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 94,649 shares of the healthcare company’s stock, valued at approximately $1,568,000.

A number of other large investors have also recently modified their holdings of the stock. ARK Investment Management LLC boosted its stake in shares of UiPath by 7.5% during the 2nd quarter. ARK Investment Management LLC now owns 48,280,787 shares of the healthcare company’s stock valued at $800,013,000 after purchasing an additional 3,388,821 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of UiPath by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,463,001 shares of the healthcare company’s stock valued at $358,918,000 after purchasing an additional 1,215,702 shares in the last quarter. BlackRock Inc. boosted its stake in shares of UiPath by 1.7% during the 1st quarter. BlackRock Inc. now owns 17,695,277 shares of the healthcare company’s stock valued at $310,729,000 after purchasing an additional 298,204 shares in the last quarter. FMR LLC boosted its stake in UiPath by 9.5% during the first quarter. FMR LLC now owns 12,582,776 shares of the healthcare company’s stock worth $220,954,000 after acquiring an additional 1,089,270 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in UiPath by 32.4% during the second quarter. Goldman Sachs Group Inc. now owns 9,623,861 shares of the healthcare company’s stock worth $175,058,000 after acquiring an additional 2,354,365 shares in the last quarter. Institutional investors own 59.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PATH shares. DA Davidson boosted their price objective on shares of UiPath from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, September 7th. Bank of America boosted their price objective on shares of UiPath from $20.00 to $22.00 in a research note on Thursday, September 7th. Canaccord Genuity Group boosted their price objective on shares of UiPath from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price objective on shares of UiPath in a research note on Thursday, September 28th. Finally, Macquarie boosted their price objective on shares of UiPath from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, September 7th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.84.

UiPath Trading Up 1.6 %

Shares of NYSE PATH opened at $18.56 on Tuesday. The firm has a 50 day moving average of $16.71 and a 200 day moving average of $16.58. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of -57.98 and a beta of 0.60. UiPath Inc. has a 12-month low of $10.98 and a 12-month high of $19.94.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Wednesday, September 6th. The healthcare company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $287.31 million during the quarter, compared to analyst estimates of $281.48 million. UiPath had a negative net margin of 15.47% and a negative return on equity of 7.49%. The company’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.18) earnings per share. Sell-side analysts predict that UiPath Inc. will post -0.28 EPS for the current year.

Insiders Place Their Bets

In other UiPath news, Director Rich Wong sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $18.07, for a total value of $1,807,000.00. Following the completion of the transaction, the director now directly owns 756,599 shares in the company, valued at $13,671,743.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Rich Wong sold 100,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $18.07, for a total transaction of $1,807,000.00. Following the completion of the transaction, the director now owns 756,599 shares in the company, valued at $13,671,743.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $16.10, for a total transaction of $644,000.00. Following the transaction, the chief financial officer now owns 1,143,754 shares of the company’s stock, valued at approximately $18,414,439.40. The disclosure for this sale can be found here. Insiders sold a total of 280,000 shares of company stock worth $4,784,200 over the last three months. 31.03% of the stock is currently owned by company 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.