Assenagon Asset Management S.A. Raises Stake in UiPath, Inc. $PATH

Key Points

• Assenagon Asset Management increased its UiPath stake by 272.8% in the second quarter, acquiring 404,399 additional shares to own 552,613 shares valued at approximately $6.0 million. Institutional investors collectively hold 62.5% of UiPath.
• Analyst sentiment remains cautious: UiPath has a consensus “Hold” rating and a $13.80 average price target, with two Buy ratings, fourteen Holds, and one Sell rating.
• UiPath’s latest quarterly results exceeded revenue expectations, with revenue rising 17.3% year over year to $418.38 million and earnings of $0.15 per share matching estimates. Shares opened at $15.68, above the company’s $9.20–$19.84 52-week range midpoint.

Assenagon Asset Management S.A. boosted its stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 272.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 552,613 shares of the company's stock after buying an additional 404,399 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.11% of UiPath worth $6,007,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. HighMark Wealth Management LLC bought a new stake in UiPath in the fourth quarter worth about $25,000. TD Waterhouse Canada Inc. increased its stake in shares of UiPath by 1,270.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company's stock worth $29,000 after purchasing an additional 1,652 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of UiPath during the 4th quarter worth approximately $37,000. AdvisorNet Financial Inc raised its holdings in shares of UiPath by 750.0% in the 1st quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company's stock worth $38,000 after purchasing an additional 3,000 shares during the period. Finally, REAP Financial Group LLC bought a new stake in shares of UiPath in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PATH shares. Morgan Stanley reduced their price objective on UiPath from $17.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, May 29th. Wall Street Zen lowered UiPath from a "buy" rating to a "hold" rating in a research note on Saturday, May 30th. DA Davidson dropped their price target on UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, May 29th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of UiPath in a research note on Friday, May 29th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of UiPath in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, UiPath has a consensus rating of "Hold" and a consensus target price of $13.80.

UiPath Stock Performance

Shares of PATH opened at $15.68 on Wednesday. UiPath, Inc. has a 52-week low of $9.20 and a 52-week high of $19.84. The stock's 50-day simple moving average is $11.70 and its 200 day simple moving average is $11.45. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96.

UiPath (NYSE:PATH - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, meeting analysts' consensus estimates of $0.15. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The business had revenue of $418.38 million during the quarter, compared to analyst estimates of $397.54 million. During the same quarter in the previous year, the firm earned $0.11 EPS. The company's quarterly revenue was up 17.3% compared to the same quarter last year. On average, research analysts forecast that UiPath, Inc. will post 0.4 earnings per share for the current fiscal year.

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. 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.

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