Empowered Funds LLC Buys 71,990 Shares of UiPath, Inc. $PATH

Key Points

• Empowered Funds LLC increased its UiPath position by 39.4%, adding 71,990 shares to own 254,830 shares valued at approximately $2.83 million. Institutional investors collectively hold 62.5% of UiPath’s stock.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $13.80. Morgan Stanley, UBS, and DA Davidson recently lowered their targets to between $12 and $15.
• UiPath reported quarterly earnings of $0.15 per share, matching estimates, while revenue of $418.4 million exceeded expectations and rose 17.3% year over year. The stock opened at $14.08 after recently trading up 7.9%.

Empowered Funds LLC raised its holdings in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 39.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,830 shares of the company's stock after acquiring an additional 71,990 shares during the quarter. Empowered Funds LLC's holdings in UiPath were worth $2,829,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of UiPath by 8.4% in the 1st quarter. Royal Bank of Canada now owns 140,774 shares of the company's stock valued at $1,450,000 after purchasing an additional 10,872 shares during the period. Woodline Partners LP increased its position in UiPath by 69.6% during the 1st quarter. Woodline Partners LP now owns 22,566 shares of the company's stock worth $232,000 after buying an additional 9,257 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in UiPath by 5.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,477,730 shares of the company's stock worth $15,221,000 after purchasing an additional 75,737 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of UiPath in the second quarter valued at approximately $169,000. Finally, Prudential Financial Inc. grew its holdings in shares of UiPath by 90.1% during the 2nd quarter. Prudential Financial Inc. now owns 34,029 shares of the company's stock worth $436,000 after purchasing an additional 16,125 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley reduced their price objective on UiPath from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, May 29th. UBS Group lowered their price target on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Monday, June 29th. Weiss Ratings restated a "hold (c-)" rating on shares of UiPath in a research report on Friday, July 10th. New Street Research set a $13.00 price target on shares of UiPath in a report on Monday, June 1st. Finally, DA Davidson cut their target price on UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $13.80.

UiPath Trading Up 7.9%

UiPath stock opened at $14.08 on Wednesday. UiPath, Inc. has a 1-year low of $9.20 and a 1-year high of $19.84. The firm has a market capitalization of $7.30 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.56 and a beta of 0.96. The firm's 50 day simple moving average is $11.42 and its 200 day simple moving average is $11.44.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $418.38 million for the quarter, compared to analysts' expectations of $397.54 million. UiPath had a net margin of 19.58% and a return on equity of 7.92%. UiPath's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. Research analysts forecast that UiPath, Inc. will post 0.4 earnings per share for the current year.

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. 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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