Redwood Investment Management LLC Buys New Stake in UiPath, Inc. $PATH

Redwood Investment Management LLC bought a new stake in UiPath, Inc. (NYSE:PATH) in the 2nd quarter, HoldingsChannel reports. The fund bought 108,844 shares of the company’s stock, valued at approximately $1,183,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of UiPath by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company’s stock worth $804,994,000 after purchasing an additional 1,219,057 shares in the last quarter. BlackRock Inc. boosted its position in shares of UiPath by 7.2% in the 2nd quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock worth $501,684,000 after purchasing an additional 3,097,822 shares in the last quarter. State Street Corp boosted its position in shares of UiPath by 66.4% in the 4th quarter. State Street Corp now owns 13,004,786 shares of the company’s stock worth $213,148,000 after purchasing an additional 5,189,438 shares in the last quarter. AQR Capital Management LLC grew its stake in UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after buying an additional 4,926,341 shares during the last quarter. Finally, Bank of America Corp DE increased its position in UiPath by 13.2% during the 1st quarter. Bank of America Corp DE now owns 10,046,699 shares of the company’s stock valued at $111,518,000 after buying an additional 1,170,285 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Daniel Dines sold 1,402,347 shares of UiPath stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $16.07, for a total transaction of $22,535,716.29. Following the completion of the sale, the chief executive officer owned 26,491,238 shares of the company’s stock, valued at $425,714,194.66. The trade was a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.44% of the stock is currently owned by insiders.

UiPath Price Performance

Shares of PATH stock opened at $16.83 on Thursday. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The business has a fifty day moving average of $12.86 and a 200 day moving average of $11.66. UiPath, Inc. has a 1 year low of $9.20 and a 1 year high of $19.84.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $418.38 million for the quarter, compared to the consensus estimate of $397.54 million. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, equities research analysts expect that UiPath, Inc. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PATH. New Street Research set a $13.00 price target on UiPath in a research note on Monday, June 1st. Bank of America boosted their price target on UiPath from $12.00 to $13.00 and gave the stock an “underperform” rating in a research note on Friday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of UiPath in a research report on Friday, May 29th. DA Davidson decreased their price objective on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, May 29th. Finally, BMO Capital Markets lowered their target price on shares of UiPath from $14.00 to $13.00 and set a “market perform” rating for the company in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.87.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.