Edgestream Partners L.P. Acquires 607,243 Shares of UiPath, Inc. (NYSE:PATH)

Edgestream Partners L.P. lifted its holdings in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 311.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 802,046 shares of the company's stock after buying an additional 607,243 shares during the period. Edgestream Partners L.P. owned about 0.15% of UiPath worth $8,261,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of UiPath by 198.6% in the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock valued at $31,000 after purchasing an additional 1,970 shares during the period. CX Institutional bought a new stake in shares of UiPath in the 1st quarter valued at about $36,000. EverSource Wealth Advisors LLC raised its holdings in shares of UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock valued at $38,000 after purchasing an additional 1,742 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of UiPath in the 4th quarter valued at about $50,000. Finally, True Wealth Design LLC raised its holdings in shares of UiPath by 18.4% in the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock valued at $66,000 after purchasing an additional 801 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 56,322 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $12.72, for a total value of $716,415.84. Following the sale, the chief financial officer owned 859,991 shares in the company, valued at $10,939,085.52. This trade represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel Dines sold 45,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $12.44, for a total transaction of $559,800.00. Following the completion of the sale, the chief executive officer owned 5,148,376 shares in the company, valued at $64,045,797.44. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 560,117 shares of company stock worth $7,041,044 in the last 90 days. Company insiders own 23.19% of the company's stock.

UiPath Stock Performance

Shares of NYSE PATH traded down $0.05 during trading hours on Tuesday, hitting $12.44. 3,827,323 shares of the stock were exchanged, compared to its average volume of 10,263,324. The company has a market cap of $6.65 billion, a PE ratio of -103.70, a price-to-earnings-growth ratio of 16.18 and a beta of 1.04. The company's fifty day simple moving average is $12.73 and its two-hundred day simple moving average is $12.46. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $15.93.

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. The business had revenue of $356.62 million for the quarter, compared to analyst estimates of $332.17 million. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. As a group, sell-side analysts expect that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

PATH has been the topic of several research analyst reports. Truist Financial increased their price target on shares of UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a report on Friday, May 30th. Mizuho lowered their price target on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. BMO Capital Markets increased their price target on shares of UiPath from $11.50 to $15.50 and gave the company a "market perform" rating in a report on Friday, May 30th. Canaccord Genuity Group set a $16.00 price target on shares of UiPath and gave the company a "buy" rating in a report on Monday, June 2nd. Finally, Evercore ISI increased their price target on shares of UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $13.83.

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.