Tidal Investments LLC Buys 155,521 Shares of UiPath, Inc. $PATH

Key Points

• Tidal Investments increased its UiPath stake by 24.4% in the second quarter, purchasing 155,521 shares and bringing its holdings to 794,084 shares, valued at approximately $8.6 million.
• Institutional investors own 62.5% of UiPath. The company reported quarterly revenue of $410.3 million, up 13.3% year over year, while EPS of $0.15 matched analyst expectations.
• UiPath shares opened at $13.76, while analysts maintain a consensus “Hold” rating and an average price target of $16.75. CEO Daniel Dines separately sold 1.4 million shares worth about $22.5 million.

Tidal Investments LLC raised its stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 24.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 794,084 shares of the company's stock after purchasing an additional 155,521 shares during the period. Tidal Investments LLC owned 0.15% of UiPath worth $8,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of UiPath during the 4th quarter valued at about $120,176,000. State Street Corp grew its stake in shares of UiPath by 66.4% during the 4th quarter. State Street Corp now owns 13,004,786 shares of the company's stock valued at $213,148,000 after acquiring an additional 5,189,438 shares during the period. AQR Capital Management LLC increased its holdings in UiPath by 76.0% in the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company's stock worth $145,732,000 after acquiring an additional 4,926,341 shares in the last quarter. California State Teachers Retirement System increased its holdings in UiPath by 957.1% in the 2nd quarter. California State Teachers Retirement System now owns 5,248,536 shares of the company's stock worth $57,052,000 after acquiring an additional 4,752,040 shares in the last quarter. Finally, Morgan Stanley raised its stake in UiPath by 54.0% during the 4th quarter. Morgan Stanley now owns 9,310,304 shares of the company's stock worth $152,596,000 after acquiring an additional 3,262,930 shares during the period. Hedge funds and other institutional investors own 62.50% of the company's stock.

UiPath Price Performance

PATH stock opened at $13.76 on Friday. UiPath, Inc. has a 1-year low of $9.20 and a 1-year high of $19.84. The business has a 50 day simple moving average of $14.20 and a two-hundred day simple moving average of $12.05. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.35 and a beta of 1.02.

UiPath (NYSE:PATH - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. UiPath had a net margin of 21.03% and a return on equity of 9.70%. The firm had revenue of $410.26 million for the quarter, compared to analysts' expectations of $397.77 million. During the same quarter last year, the business posted $0.15 earnings per share. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts anticipate that UiPath, Inc. will post 0.47 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have weighed in on PATH shares. Weiss Ratings raised shares of UiPath from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. Wall Street Zen cut shares of UiPath from a "buy" rating to a "hold" rating in a research note on Saturday, May 30th. Canaccord Genuity Group restated a "hold" rating and set a $17.00 price objective (up from $15.00) on shares of UiPath in a research report on Friday, September 4th. TD Cowen lifted their target price on shares of UiPath from $13.00 to $16.00 and gave the company a "hold" rating in a research note on Friday, September 4th. Finally, UBS Group set a $16.00 target price on shares of UiPath in a report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, UiPath presently has an average rating of "Hold" and a consensus price target of $16.75.

UiPath Company Profile

UiPath Inc NYSE: PATH develops enterprise automation software designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation (RPA), artificial intelligence, workflow orchestration and process intelligence to support automation across areas such as finance, customer service, human resources, information technology and operations.

The UiPath Platform includes tools for discovering and analyzing business processes, building and managing software robots, processing documents, testing applications and coordinating automated workflows.

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