Summit Global Investments Takes Position in UiPath Inc. (NYSE:PATH)

Summit Global Investments purchased a new stake in shares of UiPath Inc. (NYSE:PATH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,624 shares of the company's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC bought a new stake in UiPath during the 4th quarter valued at $298,000. ING Groep NV bought a new stake in UiPath during the 4th quarter valued at $3,120,000. Savant Capital LLC boosted its position in UiPath by 483.1% during the 4th quarter. Savant Capital LLC now owns 225,906 shares of the company's stock valued at $2,871,000 after acquiring an additional 187,161 shares in the last quarter. Bank of New York Mellon Corp boosted its position in UiPath by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company's stock valued at $30,984,000 after acquiring an additional 66,100 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its position in UiPath by 27.6% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 353,993 shares of the company's stock valued at $4,499,000 after acquiring an additional 76,647 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.01, for a total value of $1,186,527.95. Following the completion of the transaction, the chief financial officer now owns 987,322 shares in the company, valued at approximately $11,857,737.22. This represents a 9.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Hitesh Ramani sold 12,500 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, the chief accounting officer now 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 position. The disclosure for this sale can be found here. 23.19% of the stock is owned by company insiders.

UiPath Stock Performance

Shares of UiPath stock traded up $0.21 during trading on Thursday, reaching $13.26. The company had a trading volume of 12,281,748 shares, compared to its average volume of 10,623,051. The company has a market cap of $7.31 billion, a price-to-earnings ratio of -82.84 and a beta of 1.01. The firm's fifty day moving average is $11.70 and its 200-day moving average is $12.70. UiPath Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $15.93.

UiPath (NYSE:PATH - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $356.62 million for the quarter, compared to analyst estimates of $332.17 million. UiPath had a negative net margin of 6.49% and a negative return on equity of 4.14%. The company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 EPS. On average, research analysts anticipate that UiPath Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PATH shares. DA Davidson raised their price objective on UiPath from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. UBS Group lowered their price target on UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, March 13th. Mizuho lowered their price target on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Evercore ISI lifted 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. Finally, Barclays reaffirmed an "equal weight" rating on shares of UiPath in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $13.83.

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.