Envestnet Asset Management Inc. Grows Position in UiPath, Inc. (NYSE:PATH)

Key Points

• Envestnet Asset Management Inc. increased its stake in UiPath, Inc. by 52.1% during the first quarter, now holding approximately $1.10 million worth of shares.
• UiPath's latest earnings report showed a 6.4% year-over-year revenue growth with earnings per share (EPS) of $0.11, surpassing estimates of $0.10.
• Analysts have varying ratings for UiPath, with a consensus rating of "Hold" and an average target price of $13.83, reflecting a cautious outlook.

Envestnet Asset Management Inc. raised its position in UiPath, Inc. (NYSE:PATH - Free Report) by 52.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,087 shares of the company's stock after purchasing an additional 36,674 shares during the quarter. Envestnet Asset Management Inc.'s holdings in UiPath were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in shares of UiPath by 72.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,970 shares of the company's stock valued at $457,000 after acquiring an additional 15,089 shares during the period. American Century Companies Inc. increased its position in shares of UiPath by 103.7% during the 4th quarter. American Century Companies Inc. now owns 153,191 shares of the company's stock valued at $1,947,000 after purchasing an additional 77,983 shares during the period. Sei Investments Co. raised its stake in shares of UiPath by 131.9% in the 4th quarter. Sei Investments Co. now owns 234,884 shares of the company's stock worth $2,985,000 after buying an additional 133,616 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of UiPath by 14.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 67,861 shares of the company's stock valued at $863,000 after buying an additional 8,497 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in UiPath during the fourth quarter valued at about $5,776,000. Institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of UiPath from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Needham & Company LLC reissued a "hold" rating on shares of UiPath in a research note on Friday, May 30th. Evercore ISI lifted their target price on shares of UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a research report on Friday, May 30th. Royal Bank Of Canada raised their price objective on shares of UiPath from $13.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Friday, May 30th. Finally, DA Davidson raised UiPath to a "hold" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $13.83.

Insiders Place Their Bets

In other UiPath news, CEO Daniel Dines sold 9,988 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 4,598,388 shares of the company's stock, valued at approximately $55,180,656. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 831,310 shares of company stock valued at $10,428,922 over the last 90 days. 23.19% of the stock is owned by corporate insiders.

UiPath Stock Performance

NYSE PATH traded down $0.02 during trading hours on Wednesday, hitting $11.21. The company had a trading volume of 7,664,324 shares, compared to its average volume of 11,779,059. UiPath, Inc. has a 52 week low of $9.38 and a 52 week high of $15.93. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of -93.37, a PEG ratio of 14.86 and a beta of 1.03. The firm has a 50 day simple moving average of $12.58 and a 200 day simple moving average of $12.35.

UiPath (NYSE:PATH - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The company had revenue of $356.62 million during the quarter, compared to analyst estimates of $332.17 million. During the same period in the prior year, the business posted $0.13 earnings per share. UiPath's revenue for the quarter was up 6.4% on a year-over-year basis. On average, research analysts forecast that UiPath, Inc. will post -0.17 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.