Spire Wealth Management Invests $266,000 in UiPath, Inc. (NYSE:PATH)

Spire Wealth Management purchased a new stake in UiPath, Inc. (NYSE:PATH - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,865 shares of the company's stock, valued at approximately $266,000.

A number of other hedge funds have also bought and sold shares of PATH. Norges Bank bought a new position in shares of UiPath during the fourth quarter worth approximately $71,191,000. Senvest Management LLC grew its position in UiPath by 29.2% during the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock worth $178,890,000 after buying an additional 3,180,300 shares in the last quarter. AQR Capital Management LLC increased its stake in UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after acquiring an additional 2,072,089 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in UiPath by 35.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock valued at $69,385,000 after acquiring an additional 1,432,569 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of UiPath by 111.8% during the 4th quarter. Marshall Wace LLP now owns 2,456,102 shares of the company's stock valued at $31,217,000 after acquiring an additional 1,296,382 shares during the period. 62.50% of the stock is owned by institutional investors.

Insider Buying and Selling at UiPath

In other UiPath news, CEO Daniel Dines sold 45,000 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $12.78, for a total transaction of $575,100.00. Following the sale, the chief executive officer now owns 5,598,376 shares of the company's stock, valued at approximately $71,547,245.28. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total value of $127,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 314,891 shares of the company's stock, valued at approximately $3,208,739.29. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,295 shares of company stock worth $2,998,253. Insiders own 23.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PATH. Truist Financial raised their price target on UiPath from $12.00 to $13.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Morgan Stanley boosted their target price on shares of UiPath from $12.00 to $15.00 and gave the company an "equal weight" rating in a research report on Monday, June 2nd. UBS Group reduced their price target 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 restated a "hold" rating on shares of UiPath in a research report on Friday, May 30th. Finally, Barclays restated an "equal weight" rating on shares of UiPath in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, UiPath has an average rating of "Hold" and a consensus price target of $13.83.

UiPath Trading Down 0.4%

Shares of PATH stock opened at $12.72 on Monday. The business's 50-day moving average price is $12.39 and its 200-day moving average price is $12.49. UiPath, Inc. has a 12 month low of $9.38 and a 12 month high of $15.93. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -105.96, a PEG ratio of 16.68 and a beta of 1.06.

UiPath (NYSE:PATH - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $356.62 million for the quarter, compared to the consensus estimate of $332.17 million. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The firm's revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company 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.

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.

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