Vinva Investment Management Ltd grew its position in UiPath, Inc. (NYSE:PATH – Free Report) by 51.5% during the 2nd quarter, Holdings Channel reports. The fund owned 26,275 shares of the company’s stock after buying an additional 8,934 shares during the quarter. Vinva Investment Management Ltd’s holdings in UiPath were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lauer Wealth LLC lifted its position in UiPath by 43.4% in the second quarter. Lauer Wealth LLC now owns 91,850 shares of the company’s stock valued at $1,176,000 after purchasing an additional 27,800 shares during the period. Choreo LLC increased its position in UiPath by 110.4% during the 2nd quarter. Choreo LLC now owns 25,252 shares of the company’s stock worth $323,000 after purchasing an additional 13,249 shares during the period. Russell Investments Group Ltd. increased its position in UiPath by 7.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,445,644 shares of the company’s stock worth $18,448,000 after purchasing an additional 98,058 shares during the period. Inceptionr LLC purchased a new position in shares of UiPath during the 2nd quarter worth approximately $718,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of UiPath by 2.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 71,029 shares of the company’s stock valued at $909,000 after buying an additional 1,623 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.
UiPath Stock Up 2.5%
NYSE:PATH opened at $13.94 on Friday. UiPath, Inc. has a 52-week low of $9.38 and a 52-week high of $18.74. The stock has a fifty day simple moving average of $14.57 and a 200-day simple moving average of $12.96. The company has a market capitalization of $7.40 billion, a PE ratio of 464.50, a price-to-earnings-growth ratio of 5.13 and a beta of 1.09.
Insider Buying and Selling
In other UiPath news, CFO Ashim Gupta sold 240,874 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $17.28, for a total transaction of $4,162,302.72. Following the sale, the chief financial officer owned 696,117 shares in the company, valued at approximately $12,028,901.76. This represents a 25.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel Dines sold 122,734 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $14.89, for a total value of $1,827,509.26. Following the transaction, the chief executive officer directly owned 613,670 shares of the company’s stock, valued at $9,137,546.30. The trade was a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,319,002 shares of company stock valued at $34,094,875. Corporate insiders own 23.19% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on PATH shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UiPath in a report on Thursday, October 30th. Wall Street Zen raised shares of UiPath from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Friday, September 5th. BMO Capital Markets boosted their price objective on shares of UiPath from $12.50 to $13.00 and gave the stock a “market perform” rating in a report on Thursday, October 2nd. Finally, DA Davidson initiated coverage on shares of UiPath in a research report on Friday, September 5th. They set a “neutral” rating and a $12.00 target price on the stock. Two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.71.
Get Our Latest Research Report on PATH
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, 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.
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