Engineers Gate Manager LP Buys 145,749 Shares of UiPath, Inc. $PATH

Engineers Gate Manager LP raised its position in shares of UiPath, Inc. (NYSE:PATH) by 33.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 586,093 shares of the company’s stock after acquiring an additional 145,749 shares during the quarter. Engineers Gate Manager LP owned approximately 0.11% of UiPath worth $6,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PATH. DNB Asset Management AS increased its stake in shares of UiPath by 266.4% in the 4th quarter. DNB Asset Management AS now owns 565,799 shares of the company’s stock worth $9,273,000 after acquiring an additional 411,395 shares in the last quarter. BlackRock Inc. boosted its stake in UiPath by 7.2% during the second quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock worth $501,684,000 after acquiring an additional 3,097,822 shares in the last quarter. Redwood Investment Management LLC bought a new stake in UiPath during the second quarter worth about $1,183,000. First Trust Advisors LP boosted its stake in UiPath by 48.7% during the first quarter. First Trust Advisors LP now owns 1,624,148 shares of the company’s stock worth $18,028,000 after acquiring an additional 532,157 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new stake in UiPath in the first quarter worth about $1,143,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Stock Down 0.8%

Shares of PATH opened at $13.76 on Friday. The company has a market capitalization of $7.13 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.02. The firm has a 50 day moving average of $14.20 and a 200 day moving average of $12.05. UiPath, Inc. has a twelve month low of $9.20 and a twelve month high of $19.84.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $410.26 million for the quarter, compared to analysts’ expectations of $397.77 million. UiPath had a return on equity of 9.70% and a net margin of 21.03%.The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. On average, sell-side analysts expect that UiPath, Inc. will post 0.47 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on PATH shares. UBS Group set a $16.00 target price on shares of UiPath in a research note on Friday, September 4th. Barclays upped their price target on UiPath from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, September 4th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $17.00 price objective (up from $15.00) on shares of UiPath in a research report on Friday, September 4th. Weiss Ratings upgraded UiPath from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, Truist Financial lifted their price objective on UiPath from $12.00 to $17.00 and gave the company a “hold” rating in a research note on Friday, September 4th. Three analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.75.

Insider Activity

In other news, CEO Daniel Dines sold 1,402,347 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer directly owned 26,491,238 shares of the company’s stock, valued at $425,714,194.66. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.44% of the stock is currently owned by insiders.

About UiPath

UiPath Inc (NYSE: PATH) develops enterprise automation software designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation (RPA), artificial intelligence, workflow orchestration and process intelligence to support automation across areas such as finance, customer service, human resources, information technology and operations.

The UiPath Platform includes tools for discovering and analyzing business processes, building and managing software robots, processing documents, testing applications and coordinating automated workflows.