Armistice Capital LLC Buys 1,237,782 Shares of UiPath, Inc. $PATH

Key Points

• Armistice Capital LLC increased its holdings in UiPath, Inc. by 220.3% during the 1st quarter, now owning approximately $18.54 million worth of shares.
• Insider transactions in UiPath showed CEO Daniel Dines and CFO Ashim Gupta selling shares, with insiders owning 23.19% of the company.
• Research analysts have set new price targets for UiPath, with a consensus target price of $13.83 and a rating of "Hold" among most analysts.

Armistice Capital LLC increased its holdings in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 220.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,799,689 shares of the company's stock after acquiring an additional 1,237,782 shares during the period. Armistice Capital LLC owned about 0.33% of UiPath worth $18,537,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its position in UiPath by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company's stock worth $495,029,000 after acquiring an additional 1,396,972 shares during the last quarter. Federated Hermes Inc. lifted its holdings in UiPath by 479.3% during the 1st quarter. Federated Hermes Inc. now owns 5,720,096 shares of the company's stock worth $58,917,000 after buying an additional 4,732,712 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of UiPath by 35.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock valued at $69,385,000 after purchasing an additional 1,432,569 shares during the period. Two Sigma Investments LP lifted its stake in shares of UiPath by 8.2% in the 4th quarter. Two Sigma Investments LP now owns 5,276,248 shares of the company's stock valued at $67,061,000 after purchasing an additional 400,726 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of UiPath by 29.0% in the 4th quarter. Two Sigma Advisers LP now owns 4,901,000 shares of the company's stock valued at $62,292,000 after purchasing an additional 1,100,800 shares during the period. 62.50% of the stock is currently owned by institutional investors.

UiPath Price Performance

NYSE PATH traded down $0.21 on Tuesday, reaching $10.92. The company had a trading volume of 11,388,538 shares, compared to its average volume of 8,998,580. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of -90.95, a P/E/G ratio of 14.57 and a beta of 1.02. UiPath, Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The business has a 50 day moving average of $11.85 and a two-hundred day moving average of $11.90.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PATH. BMO Capital Markets raised their price objective on UiPath from $11.50 to $15.50 and gave the stock a "market perform" rating in a research note on Friday, May 30th. Barclays restated an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Truist Financial raised their target price on shares of UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Wall Street Zen downgraded shares of UiPath from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 3rd. Finally, Needham & Company LLC restated a "hold" rating on shares of UiPath in a research report on Friday, May 30th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $13.83.

Insider Buying and Selling

In other UiPath news, CEO Daniel Dines sold 9,988 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 4,598,388 shares of the company's stock, valued at approximately $55,180,656. This represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 831,310 shares of company stock worth $10,428,922 over the last quarter. Corporate insiders own 23.19% of the company's stock.

About UiPath

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.