Blueshift Asset Management LLC Acquires Shares of 23,391 UiPath, Inc. (NYSE:PATH)

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 stake in UiPath, Inc. (NYSE:PATH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,391 shares of the company's stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PATH. Versant Capital Management Inc boosted its position in shares of UiPath by 198.6% during the first 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 period. CX Institutional acquired a new position in shares of UiPath during the first quarter worth approximately $36,000. True Wealth Design LLC boosted its position in shares of UiPath by 18.4% during the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock worth $66,000 after buying an additional 801 shares during the period. MRP Capital Investments LLC acquired a new position in shares of UiPath during the first quarter worth approximately $82,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of UiPath during the fourth quarter worth approximately $102,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Trading Up 0.8%

NYSE:PATH traded up $0.10 during mid-day trading on Thursday, hitting $11.32. The company's stock had a trading volume of 478,404 shares, compared to its average volume of 11,712,823. UiPath, Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of -94.33, a P/E/G ratio of 14.70 and a beta of 1.03. The stock has a fifty day moving average of $12.54 and a 200-day moving average of $12.34.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly 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 firm had revenue of $356.62 million during the quarter, compared to analyst estimates of $332.17 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. The company's quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PATH. Mizuho reduced their price objective on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Evercore ISI upped their price target on UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Royal Bank Of Canada boosted their target price on shares of UiPath from $13.00 to $15.00 and gave the company a "sector perform" rating in a research note on Friday, May 30th. Finally, DA Davidson raised shares of UiPath to a "hold" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, UiPath currently has an average rating of "Hold" and an average target price of $13.83.

Insider Buying and Selling at UiPath

In other news, CEO Daniel Dines sold 9,988 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $12.00, for a total transaction of $119,856.00. Following the completion of the sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 831,310 shares of company stock worth $10,428,922 over the last three months. Company insiders own 23.19% of the company's stock.

UiPath Company 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.