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UiPath Inc. (NYSE:PATH) Stake Boosted by Pallas Capital Advisors LLC

UiPath logo with Business Services background

Pallas Capital Advisors LLC lifted its stake in shares of UiPath Inc. (NYSE:PATH - Free Report) by 32.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,776 shares of the company's stock after acquiring an additional 20,667 shares during the period. Pallas Capital Advisors LLC's holdings in UiPath were worth $873,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PATH shares. Morgan Stanley raised their target price on shares of UiPath from $12.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Mizuho reduced their price target on UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Scotiabank lifted their target price on shares of UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a research note on Friday, May 30th. Truist Financial boosted their target price on shares of UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a report on Friday, May 30th. Finally, Bank of America reissued an "underperform" rating and issued a $10.00 target price (down from $18.00) on shares of UiPath in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $13.83.

Read Our Latest Research Report on PATH

UiPath Price Performance

Shares of PATH stock traded down $0.42 during trading on Friday, hitting $12.24. 9,238,387 shares of the stock traded hands, compared to its average volume of 10,535,357. The firm's fifty day moving average price is $12.03 and its 200-day moving average price is $12.66. UiPath Inc. has a 52-week low of $9.38 and a 52-week high of $15.93. The firm has a market capitalization of $6.75 billion, a P/E ratio of -76.51 and a beta of 1.06.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. UiPath had a negative return on equity of 4.14% and a negative net margin of 6.49%. The company had revenue of $356.62 million for the quarter, compared to analysts' expectations of $332.17 million. During the same period last year, the firm earned $0.13 earnings per share. UiPath's quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts expect that UiPath Inc. will post -0.17 earnings per share for the current year.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 987,322 shares in the company, valued at $11,857,737.22. This represents a 9.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.19% of the company's stock.

UiPath Profile

(Free Report)

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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Institutional Ownership by Quarter for UiPath (NYSE:PATH)

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