Redwood Investment Management LLC Acquires Shares of 108,844 UiPath, Inc. $PATH

Key Points

• Redwood Investment Management acquired 108,844 UiPath shares worth approximately $1.18 million during the second quarter. Institutional investors collectively own 62.5% of the company.
• UiPath reported quarterly revenue of $418.4 million, exceeding estimates of $397.5 million, while revenue increased 17.3% year over year. Earnings of $0.15 per share matched consensus expectations.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $13.87. CEO Daniel Dines also sold 1.4 million shares for approximately $22.5 million, reducing his stake by 5.03%.

Redwood Investment Management LLC bought a new stake in UiPath, Inc. (NYSE:PATH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 108,844 shares of the company's stock, valued at approximately $1,183,000.

Several other institutional investors have also recently made changes to their positions in the company. DNB Asset Management AS increased its stake in UiPath by 266.4% in the 4th quarter. DNB Asset Management AS now owns 565,799 shares of the company's stock worth $9,273,000 after buying an additional 411,395 shares during the period. BlackRock Inc. lifted its holdings in UiPath by 7.2% during the 2nd quarter. BlackRock Inc. now owns 46,153,124 shares of the company's stock valued at $501,684,000 after buying an additional 3,097,822 shares in the last quarter. First Trust Advisors LP boosted its position in UiPath by 48.7% in the 1st quarter. First Trust Advisors LP now owns 1,624,148 shares of the company's stock valued at $18,028,000 after buying an additional 532,157 shares during the period. State of Michigan Retirement System bought a new position in UiPath in the 1st quarter worth about $1,143,000. Finally, SummitTX Capital L.P. bought a new position in UiPath in the 1st quarter worth about $1,948,000. Institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PATH shares. New Street Research set a $13.00 price target on shares of UiPath in a research note on Monday, June 1st. Bank of America raised their price objective on UiPath from $12.00 to $13.00 and gave the stock an "underperform" rating in a report on Friday, May 29th. DA Davidson decreased their target price on UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, May 29th. Wall Street Zen cut UiPath from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. Finally, UBS Group dropped their price target on UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $13.87.

UiPath Stock Up 1.0%

Shares of PATH stock opened at $16.83 on Thursday. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 2.00 and a beta of 0.96. The company's 50 day moving average is $12.86 and its 200 day moving average is $11.66. 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 issued its quarterly earnings data on Thursday, May 28th. The company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. The company 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%. UiPath's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Analysts anticipate that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

Insider Activity

In other news, CEO Daniel Dines sold 1,402,347 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $16.07, for a total value of $22,535,716.29. Following the completion of the transaction, the chief executive officer directly owned 26,491,238 shares of the company's stock, valued at approximately $425,714,194.66. The trade was a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 22.44% of the company's stock.

UiPath Company 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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