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

Edgestream Partners L.P. boosted its position in UiPath, Inc. (NYSE:PATH - Free Report) by 311.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 802,046 shares of the company's stock after purchasing an additional 607,243 shares during the quarter. Edgestream Partners L.P. owned about 0.15% of UiPath worth $8,261,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PATH. Steward Partners Investment Advisory LLC increased its stake in UiPath by 99.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,807 shares of the company's stock valued at $74,000 after buying an additional 2,900 shares during the period. Proficio Capital Partners LLC acquired a new position in UiPath during the 4th quarter valued at about $307,000. Raymond James Financial Inc. acquired a new position in UiPath during the 4th quarter valued at about $5,506,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in UiPath by 57.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 127,834 shares of the company's stock valued at $1,625,000 after buying an additional 46,652 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in UiPath by 141.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock valued at $38,000 after buying an additional 1,742 shares during the period. 62.50% of the stock is currently owned by institutional investors.

UiPath Stock Down 0.5%

Shares of UiPath stock traded down $0.06 during midday trading on Thursday, hitting $12.34. The company's stock had a trading volume of 13,624,581 shares, compared to its average volume of 10,323,436. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $15.93. The firm has a market capitalization of $6.60 billion, a P/E ratio of -102.79, a PEG ratio of 16.24 and a beta of 1.04. The stock has a 50-day simple moving average of $12.75 and a 200-day simple moving average of $12.45.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $356.62 million during the quarter, compared to analyst estimates of $332.17 million. UiPath had a negative return on equity of 3.05% and a negative net margin of 4.65%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. As a group, sell-side analysts predict that UiPath, Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total value of $1,186,527.95. Following the completion of the sale, the chief financial officer owned 987,322 shares in the company, valued at $11,857,737.22. This represents a 9.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Dines sold 45,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 5,148,376 shares in the company, valued at approximately $64,045,797.44. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 650,117 shares of company stock worth $8,159,744 over the last ninety days. 23.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company reissued an "equal weight" rating on shares of UiPath in a research note on Friday, May 30th. Scotiabank raised their target price on shares of UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a research note on Friday, May 30th. Evercore ISI raised their target price on shares of UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a research note on Friday, May 30th. Barclays reissued an "equal weight" rating on shares of UiPath in a research note on Friday, May 30th. Finally, DA Davidson upgraded shares of UiPath to a "hold" rating in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.83.

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.