Engineers Gate Manager LP Boosts Stock Position in UiPath, Inc. $PATH

Engineers Gate Manager LP increased its position in UiPath, Inc. (NYSE:PATH) by 33.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 586,093 shares of the company’s stock after buying an additional 145,749 shares during the quarter. Engineers Gate Manager LP’s holdings in UiPath were worth $6,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in UiPath during the fourth quarter valued at approximately $120,176,000. State Street Corp increased its stake in shares of UiPath by 66.4% in the fourth 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 raised its position in shares of UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock valued at $145,732,000 after purchasing an additional 4,926,341 shares during the period. California State Teachers Retirement System raised its position in shares of UiPath by 957.1% during the 2nd quarter. California State Teachers Retirement System now owns 5,248,536 shares of the company’s stock valued at $57,052,000 after purchasing an additional 4,752,040 shares during the period. Finally, Morgan Stanley raised its position in shares of UiPath by 54.0% during the 4th quarter. Morgan Stanley now owns 9,310,304 shares of the company’s stock valued at $152,596,000 after purchasing an additional 3,262,930 shares during the period. Institutional investors own 62.50% of the company’s stock.

UiPath Stock Performance

Shares of NYSE PATH opened at $13.76 on Friday. The company has a market cap of $7.13 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.36 and a beta of 1.02. The firm’s fifty day moving average is $14.20 and its two-hundred day moving average is $12.05. UiPath, Inc. has a 52-week low of $9.20 and a 52-week high of $19.84.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PATH. Barclays upped their target price on shares of UiPath from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, September 4th. Needham & Company LLC boosted their price objective on UiPath from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. HC Wainwright reaffirmed a “buy” rating on shares of UiPath in a research note on Friday, September 4th. TD Cowen increased their target price on UiPath from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, September 4th. Finally, Weiss Ratings raised UiPath from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.75.

Insider Activity at UiPath

In related news, CEO Daniel Dines sold 1,402,347 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 26,491,238 shares of the company’s stock, valued at approximately $425,714,194.66. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.44% of the company’s stock.

UiPath Company Profile

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.