Neo Ivy Capital Management Purchases New Shares in UiPath, Inc. (NYSE:PATH)

Key Points

• Neo Ivy Capital Management acquired a new position in UiPath, Inc. by purchasing 218,120 shares valued at around $2.25 million in the first quarter.
• Research analysts have issued a mixed outlook for UiPath, with an average rating of "Hold" and a price target of $13.83, while some firms recently adjusted their price targets for the stock.
• UiPath reported quarterly earnings beating estimates, with a revenue of $356.62 million, reflecting a 6.4% year-over-year growth, despite a negative return on equity.

Neo Ivy Capital Management purchased a new stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 218,120 shares of the company's stock, valued at approximately $2,247,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its position in shares of UiPath by 3.7% during the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company's stock valued at $286,000 after acquiring an additional 797 shares in the last quarter. True Wealth Design LLC raised its position in shares of UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock worth $66,000 after purchasing an additional 801 shares during the period. United Capital Financial Advisors LLC raised its position in shares of UiPath by 8.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 12,238 shares of the company's stock worth $156,000 after purchasing an additional 971 shares during the period. NewEdge Advisors LLC raised its position in shares of UiPath by 6.8% during the 4th quarter. NewEdge Advisors LLC now owns 15,809 shares of the company's stock worth $201,000 after purchasing an additional 1,003 shares during the period. Finally, Xponance Inc. raised its position in shares of UiPath by 2.0% during the 1st quarter. Xponance Inc. now owns 54,246 shares of the company's stock worth $559,000 after purchasing an additional 1,054 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

UiPath Stock Up 0.9%

Shares of NYSE:PATH traded up $0.11 on Monday, reaching $12.29. The company had a trading volume of 9,106,384 shares, compared to its average volume of 11,653,604. UiPath, Inc. has a twelve month low of $9.38 and a twelve month high of $15.93. The stock has a 50-day moving average price of $12.68 and a 200 day moving average price of $12.41. The stock has a market capitalization of $6.57 billion, a P/E ratio of -102.37, a P/E/G ratio of 15.96 and a beta of 1.04.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $356.62 million during the quarter, compared to analysts' expectations of $332.17 million. UiPath had a negative return on equity of 3.05% and a negative net margin of 4.65%. The firm's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, sell-side analysts predict that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PATH shares. Evercore ISI increased their price target on UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a research report on Friday, May 30th. Canaccord Genuity Group set a $16.00 target price on UiPath and gave the company a "buy" rating in a research report on Monday, June 2nd. Wells Fargo & Company reissued an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. DA Davidson raised UiPath to a "hold" rating in a report on Tuesday, July 22nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of UiPath in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, UiPath presently has a consensus rating of "Hold" and a consensus price target of $13.83.

Insider Activity at UiPath

In other UiPath news, 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 value of $559,800.00. Following the sale, the chief executive officer owned 5,148,376 shares of the company's stock, valued at $64,045,797.44. The trade was a 0.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 98,795 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the sale, the chief financial officer directly owned 987,322 shares in the company, valued at $11,857,737.22. This trade represents a 9.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 830,117 shares of company stock worth $10,405,694. Company insiders own 23.19% of the company's stock.

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.