Erste Asset Management GmbH Makes New Investment in UiPath Inc. (NYSE:PATH)

Erste Asset Management GmbH acquired a new stake in UiPath Inc. (NYSE:PATH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 244,432 shares of the company’s stock, valued at approximately $3,129,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PATH. Comerica Bank lifted its stake in UiPath by 226.5% in the first quarter. Comerica Bank now owns 25,154 shares of the company’s stock worth $570,000 after acquiring an additional 17,451 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of UiPath by 315.6% during the first quarter. Cetera Investment Advisers now owns 67,782 shares of the company’s stock worth $1,537,000 after purchasing an additional 51,472 shares in the last quarter. Cetera Advisors LLC increased its holdings in UiPath by 93.5% in the first quarter. Cetera Advisors LLC now owns 19,706 shares of the company’s stock valued at $447,000 after buying an additional 9,522 shares during the last quarter. CWM LLC raised its stake in UiPath by 13.9% in the second quarter. CWM LLC now owns 17,877 shares of the company’s stock valued at $227,000 after buying an additional 2,185 shares in the last quarter. Finally, Warther Private Wealth LLC lifted its holdings in UiPath by 83.3% during the 2nd quarter. Warther Private Wealth LLC now owns 438,200 shares of the company’s stock worth $5,556,000 after buying an additional 199,200 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

UiPath Stock Performance

PATH stock opened at $14.52 on Tuesday. The company has a fifty day moving average of $12.90 and a 200-day moving average of $12.91. UiPath Inc. has a one year low of $10.37 and a one year high of $27.87.

UiPath (NYSE:PATH) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.04 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $303.69 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Activity at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the 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 transaction, the chief financial officer now owns 849,917 shares in the company, valued at $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 available through this hyperlink. Company insiders own 22.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PATH. DA Davidson raised their target price on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Evercore ISI boosted their price objective on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Wednesday, October 23rd. Wells Fargo & Company cut their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price objective on shares of UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.47.

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.