Spire Wealth Management Buys Shares of 25,865 UiPath, Inc. (NYSE:PATH)

Spire Wealth Management purchased a new position in UiPath, Inc. (NYSE:PATH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 25,865 shares of the company's stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PATH. Jackson Creek Investment Advisors LLC bought a new stake in shares of UiPath in the fourth quarter worth about $298,000. Bank of New York Mellon Corp grew its position in shares of UiPath by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company's stock worth $30,984,000 after buying an additional 66,100 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its position in shares of UiPath by 27.6% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 353,993 shares of the company's stock worth $4,499,000 after buying an additional 76,647 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of UiPath during the fourth quarter valued at approximately $307,000. Finally, Invesco Ltd. lifted its stake in UiPath by 10.5% in the fourth quarter. Invesco Ltd. now owns 382,800 shares of the company's stock worth $4,865,000 after acquiring an additional 36,332 shares during the period. Institutional investors own 62.50% of the company's stock.

UiPath Stock Up 3.3%

Shares of NYSE:PATH traded up $0.42 on Thursday, hitting $13.27. 6,853,531 shares of the company traded hands, compared to its average volume of 10,400,496. The stock has a 50 day simple moving average of $12.53 and a 200-day simple moving average of $12.48. The company has a market cap of $7.10 billion, a PE ratio of -110.57, a PEG ratio of 16.62 and a beta of 1.04. UiPath, Inc. has a 52 week low of $9.38 and a 52 week high of $15.93.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.11 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $332.17 million. During the same period in the prior year, the firm posted $0.13 EPS. UiPath's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PATH. UBS Group reduced their price objective on shares of UiPath from $14.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, March 13th. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a research report on Friday, May 30th. DA Davidson raised shares of UiPath to a "hold" rating in a research note on Monday, June 9th. Royal Bank Of Canada lifted their price objective on UiPath from $13.00 to $15.00 and gave the company a "sector perform" rating in a research report on Friday, May 30th. Finally, Morgan Stanley upped their target price on UiPath from $12.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $13.83.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of UiPath stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total value of $1,186,527.95. Following the completion of the sale, the chief financial officer owned 987,322 shares of the company's stock, valued at approximately $11,857,737.22. This trade represents a 9.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Dines sold 45,000 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.54, for a total value of $564,300.00. Following the transaction, the chief executive officer directly owned 5,463,376 shares in the company, valued at approximately $68,510,735.04. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 380,117 shares of company stock worth $4,726,694 over the last ninety days. 23.19% of the stock is currently owned by insiders.

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.