UiPath Inc. (NYSE:PATH) Shares Acquired by Quest Partners LLC

Quest Partners LLC boosted its holdings in UiPath Inc. (NYSE:PATH) by 181.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,756 shares of the company’s stock after purchasing an additional 17,893 shares during the quarter. Quest Partners LLC’s holdings in UiPath were worth $355,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of UiPath during the 3rd quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd acquired a new position in UiPath in the third quarter valued at $26,000. Hantz Financial Services Inc. purchased a new position in shares of UiPath during the second quarter worth about $28,000. Redwood Wealth Management Group LLC acquired a new stake in shares of UiPath during the second quarter worth about $43,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of UiPath by 124.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after purchasing an additional 2,274 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Stock Performance

UiPath stock opened at $14.24 on Monday. The company has a market cap of $7.83 billion, a P/E ratio of -71.20 and a beta of 0.87. UiPath Inc. has a one year low of $10.37 and a one year high of $27.87. The business has a fifty day moving average of $12.71 and a two-hundred day moving average of $13.11.

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

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their price target on UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. BMO Capital Markets increased their price target on shares of UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Bank of America upped their target price on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Evercore ISI raised their price target on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a 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.com, the company currently has an average rating of “Hold” and an average target price of $17.47.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction on 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 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 22.37% of the company’s stock.

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.