23,391 Shares in UiPath, Inc. (NYSE:PATH) Bought by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC acquired 23,391 shares of UiPath, Inc. (NYSE:PATH) valued at approximately $241,000 during the first quarter, marking a new position for the fund.
• UiPath reported $0.11 earnings per share for the latest quarter, exceeding expectations, with a revenue of $356.62 million compared to analyst projections of $332.17 million.
• The company faces mixed sentiment from analysts, with two sell ratings, twelve hold ratings, and three buy ratings, alongside a consensus target price of $13.83.

Blueshift Asset Management LLC bought a new position in shares of UiPath, Inc. (NYSE:PATH - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,391 shares of the company's stock, valued at approximately $241,000.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in shares of UiPath by 198.6% during the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock worth $31,000 after buying an additional 1,970 shares during the last quarter. CX Institutional purchased a new position in UiPath during the 1st quarter valued at about $36,000. True Wealth Design LLC increased its holdings in UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock valued at $66,000 after acquiring an additional 801 shares in the last quarter. MRP Capital Investments LLC acquired a new position in UiPath during the first quarter worth about $82,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of UiPath in the fourth quarter valued at about $102,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Scotiabank raised their price objective on shares of UiPath from $12.00 to $13.00 and gave the stock a "sector perform" rating in a research note on Friday, May 30th. Wells Fargo & Company reiterated an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a research report on Friday, May 30th. BMO Capital Markets boosted their price target on UiPath from $11.50 to $15.50 and gave the stock a "market perform" rating in a report on Friday, May 30th. Finally, Canaccord Genuity Group set a $16.00 price objective on UiPath and gave the company a "buy" rating in a research note on Monday, June 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $13.83.

UiPath Trading Down 5.4%

Shares of NYSE:PATH opened at $11.11 on Friday. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of -92.58, a PEG ratio of 14.55 and a beta of 1.03. The stock's 50-day moving average price is $12.63 and its two-hundred day moving average price is $12.37. UiPath, Inc. has a 12-month low of $9.38 and a 12-month high of $15.93.

UiPath (NYSE:PATH - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The business had revenue of $356.62 million for the quarter, compared to analysts' expectations of $332.17 million. During the same period last year, the company earned $0.13 earnings per share. The company's quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts forecast that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity at UiPath

In related news, CEO Daniel Dines sold 9,988 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $12.00, for a total value of $119,856.00. Following the transaction, the chief executive officer directly owned 4,598,388 shares of the company's stock, valued at approximately $55,180,656. This trade represents a 0.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 831,310 shares of company stock worth $10,428,922. Corporate insiders own 23.19% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.