Pallas Capital Advisors LLC Acquires 20,667 Shares of UiPath Inc. (NYSE:PATH)

Pallas Capital Advisors LLC increased its holdings in UiPath Inc. (NYSE:PATH - Free Report) by 32.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,776 shares of the company's stock after buying an additional 20,667 shares during the period. Pallas Capital Advisors LLC's holdings in UiPath were worth $873,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PATH. Smartleaf Asset Management LLC increased its position in shares of UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock valued at $31,000 after buying an additional 1,152 shares during the period. Versant Capital Management Inc raised its position in shares of UiPath by 198.6% in the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock worth $31,000 after acquiring an additional 1,970 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after purchasing an additional 804 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock worth $38,000 after buying an additional 1,742 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock valued at $39,000 after acquiring an additional 759 shares during the period. 62.50% of the stock is currently owned by institutional investors.

Insider Activity

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of the firm's 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the transaction, the chief financial officer now directly owns 987,322 shares of the company's stock, valued at $11,857,737.22. This represents a 9.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PATH. Mizuho reduced their price target on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. UBS Group lowered 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. Barclays reissued an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Morgan Stanley raised their price objective on shares of UiPath from $12.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of UiPath in a report 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.83.

UiPath Stock Performance

Shares of NYSE PATH traded down $0.13 during mid-day trading on Thursday, hitting $12.84. 2,190,595 shares of the stock were exchanged, compared to its average volume of 10,537,359. The company has a market cap of $7.08 billion, a P/E ratio of -80.25 and a beta of 1.06. The stock's fifty day simple moving average is $11.92 and its two-hundred day simple moving average is $12.69. UiPath Inc. has a twelve month low of $9.38 and a twelve month high of $15.93.

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