Invenomic Capital Management LP Sells 434,705 Shares of UiPath, Inc. $PATH

Invenomic Capital Management LP lessened its stake in shares of UiPath, Inc. (NYSE:PATH) by 39.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 663,434 shares of the company’s stock after selling 434,705 shares during the period. Invenomic Capital Management LP’s holdings in UiPath were worth $10,874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PATH. Norges Bank bought a new stake in shares of UiPath during the fourth quarter worth $120,176,000. State Street Corp grew 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 during the last quarter. AQR Capital Management LLC grew its stake in shares of UiPath by 76.0% in the second quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after purchasing an additional 4,926,341 shares during the last quarter. Morgan Stanley grew its stake in shares of UiPath by 54.0% in the fourth quarter. Morgan Stanley now owns 9,310,304 shares of the company’s stock worth $152,596,000 after purchasing an additional 3,262,930 shares during the last quarter. Finally, Capital Impact Advisors LLC bought a new stake in shares of UiPath in the fourth quarter worth $52,261,000. Institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

PATH has been the topic of several analyst reports. Bank of America boosted their price objective on shares of UiPath from $12.00 to $13.00 and gave the stock an “underperform” rating in a research note on Friday, May 29th. Wall Street Zen cut shares of UiPath from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of UiPath in a research note on Friday, May 29th. William Blair reissued a “hold” rating on shares of UiPath in a research note on Thursday, March 12th. Finally, UBS Group reduced their price objective on shares of UiPath from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, UiPath presently has a consensus rating of “Hold” and a consensus price target of $13.87.

UiPath Trading Down 2.5%

Shares of PATH opened at $10.26 on Thursday. The stock has a market capitalization of $5.32 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.34 and a beta of 0.96. The firm’s fifty day simple moving average is $10.70 and its two-hundred day simple moving average is $12.67. UiPath, Inc. has a 12 month low of $9.20 and a 12 month high of $19.84.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The firm had revenue of $418.38 million during the quarter, compared to analyst estimates of $397.54 million. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the company posted $0.11 EPS. As a group, research analysts predict that UiPath, Inc. will post 0.38 EPS for the current fiscal year.

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. 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.