First Trust Advisors LP Raises Stock Position in UiPath, Inc. $PATH

Key Points

• First Trust Advisors increased its UiPath stake by 48.7% in the first quarter, acquiring 532,157 additional shares and bringing its holdings to 1.62 million shares worth approximately $18.0 million. Institutional investors and hedge funds collectively own 62.5% of UiPath.
• UiPath reported quarterly revenue of $418.4 million, up 17.3% year over year, and earnings of $0.15 per share, matching expectations while exceeding revenue estimates.
• Shares recently traded at $12.54, up 2.9%, but analyst sentiment remains cautious: the stock has an overall “Hold” rating and a consensus price target of $13.80, with 14 analysts rating it Hold, two Buy, and one Sell.

First Trust Advisors LP grew its stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 48.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,624,148 shares of the company's stock after acquiring an additional 532,157 shares during the period. First Trust Advisors LP owned about 0.31% of UiPath worth $18,028,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of UiPath by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 37,871 shares of the company's stock worth $621,000 after acquiring an additional 720 shares during the period. Meeder Advisory Services Inc. increased its stake in UiPath by 7.6% in the 4th quarter. Meeder Advisory Services Inc. now owns 12,132 shares of the company's stock valued at $199,000 after purchasing an additional 861 shares in the last quarter. Pasadena Private Wealth LLC raised its holdings in UiPath by 9.0% during the first quarter. Pasadena Private Wealth LLC now owns 12,750 shares of the company's stock worth $142,000 after purchasing an additional 1,050 shares during the last quarter. CoreCap Advisors LLC raised its holdings in UiPath by 92.3% during the fourth quarter. CoreCap Advisors LLC now owns 2,579 shares of the company's stock worth $42,000 after purchasing an additional 1,238 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in UiPath by 36.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,968 shares of the company's stock worth $81,000 after purchasing an additional 1,329 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Stock Up 2.9%

PATH opened at $12.54 on Thursday. The firm has a market cap of $6.50 billion, a P/E ratio of 20.91, a PEG ratio of 1.46 and a beta of 0.98. The business's fifty day simple moving average is $11.24 and its 200 day simple moving average is $11.53. UiPath, Inc. has a 52 week low of $9.20 and a 52 week high of $19.84.

UiPath (NYSE:PATH - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $418.38 million during the quarter, compared to the consensus estimate of $397.54 million. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS. As a group, equities analysts expect that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on PATH shares. BMO Capital Markets lowered their target price on UiPath from $14.00 to $13.00 and set a "market perform" rating on the stock in a report on Monday, June 1st. UBS Group decreased their price objective on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, June 29th. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price objective on shares of UiPath in a research note on Friday, May 29th. Bank of America raised their target price on shares of UiPath from $12.00 to $13.00 and gave the company an "underperform" rating in a report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of UiPath in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $13.80.

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. 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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