278,223 Shares of UiPath, Inc. $PATH Purchased by Leuthold Group LLC

Leuthold Group LLC purchased a new stake in UiPath, Inc. (NYSE:PATH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 278,223 shares of the company’s stock, valued at approximately $3,572,000. Leuthold Group LLC owned about 0.05% of UiPath at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PATH. Parallel Advisors LLC boosted its stake in UiPath by 1.5% during the 3rd quarter. Parallel Advisors LLC now owns 71,666 shares of the company’s stock worth $920,000 after acquiring an additional 1,052 shares during the last quarter. CoreCap Advisors LLC increased its stake in UiPath by 68.7% in the third quarter. CoreCap Advisors LLC now owns 2,679 shares of the company’s stock valued at $34,000 after purchasing an additional 1,091 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in UiPath by 8.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 14,174 shares of the company’s stock valued at $182,000 after purchasing an additional 1,094 shares in the last quarter. Allworth Financial LP raised its holdings in UiPath by 5.2% in the second quarter. Allworth Financial LP now owns 23,537 shares of the company’s stock worth $256,000 after purchasing an additional 1,160 shares during the period. Finally, Signaturefd LLC raised its holdings in UiPath by 23.1% in the third quarter. Signaturefd LLC now owns 7,565 shares of the company’s stock worth $97,000 after purchasing an additional 1,422 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PATH has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating on shares of UiPath in a research report on Friday, September 4th. New Street Research set a $15.00 price objective on shares of UiPath in a research report on Thursday, September 24th. Citigroup started coverage on UiPath in a research note on Tuesday, September 8th. They set a “buy” rating and a $23.00 price objective on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of UiPath in a research note on Wednesday, September 23rd. Finally, Truist Financial reduced their target price on UiPath from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Wednesday, September 23rd. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.69.

Insider Activity at UiPath

In related news, COO Ashim Gupta sold 66,052 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $13.17, for a total transaction of $869,904.84. Following the sale, the chief operating officer directly owned 1,902,434 shares in the company, valued at $25,055,055.78. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Raghavendra Malpani sold 29,565 shares of the business’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $14.00, for a total transaction of $413,910.00. Following the completion of the sale, the insider directly owned 1,484,716 shares in the company, valued at $20,786,024. This represents a 1.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,962,735 shares of company stock valued at $43,584,098. Insiders own 22.44% of the company’s stock.

UiPath Stock Performance

Shares of PATH stock opened at $12.96 on Tuesday. The company has a market capitalization of $6.75 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company’s 50 day moving average price is $13.83 and its two-hundred day moving average price is $12.38. UiPath, Inc. has a 52 week low of $9.20 and a 52 week high of $19.84.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The firm had revenue of $410.26 million for the quarter, compared to analyst estimates 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 previous year, the firm posted $0.15 earnings per share. Analysts forecast that UiPath, Inc. will post 0.49 earnings per share for the current year.

UiPath Profile

UiPath Inc develops enterprise automation software that helps organizations automate repetitive, rules-based work and more complex business processes. Its platform combines robotic process automation with artificial intelligence and tools for managing automated workflows.

Its products and services include software robots, workflow orchestration, process and task discovery, and tools for processing documents. UiPath serves businesses and public-sector organizations across a range of industries and geographies.

Founded in Bucharest, Romania, in 2005, the company was initially known as DeskOver before adopting the UiPath name.