UiPath, Inc. (NYSE:PATH) Shares Acquired by Envestnet Asset Management Inc.

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. grew its holdings in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 52.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,087 shares of the company's stock after purchasing an additional 36,674 shares during the period. Envestnet Asset Management Inc.'s holdings in UiPath were worth $1,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. D.A. Davidson & CO. increased its stake in shares of UiPath by 12.6% during the first quarter. D.A. Davidson & CO. now owns 606,834 shares of the company's stock worth $6,250,000 after buying an additional 67,842 shares during the period. Teacher Retirement System of Texas increased its stake in UiPath by 83.4% in the first quarter. Teacher Retirement System of Texas now owns 78,485 shares of the company's stock valued at $808,000 after purchasing an additional 35,697 shares during the last quarter. Clear Creek Financial Management LLC purchased a new position in UiPath in the first quarter valued at approximately $266,000. Smith Group Asset Management LLC increased its stake in UiPath by 12.6% in the first quarter. Smith Group Asset Management LLC now owns 75,990 shares of the company's stock valued at $783,000 after purchasing an additional 8,530 shares during the last quarter. Finally, KBC Group NV increased its stake in UiPath by 19.4% in the first quarter. KBC Group NV now owns 19,997 shares of the company's stock valued at $206,000 after purchasing an additional 3,243 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other UiPath news, CEO Daniel Dines sold 9,988 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $12.00, for a total value of $119,856.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 831,310 shares of company stock valued at $10,428,922 over the last three months. 23.19% of the stock is currently owned by company insiders.

UiPath Stock Down 5.4%

Shares of NYSE PATH traded down $0.64 during mid-day trading on Friday, hitting $11.11. 19,228,927 shares of the company were exchanged, compared to its average volume of 13,749,928. The stock has a 50 day simple moving average of $12.63 and a 200-day simple moving average of $12.37. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $15.93. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of -92.58, a price-to-earnings-growth ratio of 14.55 and a beta of 1.03.

UiPath (NYSE:PATH - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. UiPath had a negative return on equity of 3.05% and a negative net margin of 4.65%. The firm had revenue of $356.62 million during the quarter, compared to the consensus estimate of $332.17 million. During the same period last year, the company earned $0.13 earnings per share. The company's revenue for the quarter was up 6.4% on a year-over-year basis. Analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PATH has been the topic of several recent analyst reports. Royal Bank Of Canada increased their price target on shares of UiPath from $13.00 to $15.00 and gave the company a "sector perform" rating in a research note on Friday, May 30th. Scotiabank increased their price target 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. Mizuho dropped their price target on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Canaccord Genuity Group set a $16.00 price objective on UiPath and gave the company a "buy" rating in a report on Monday, June 2nd. Finally, Barclays reissued an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.