Victory Capital Management Inc. Buys 120,490 Shares of UiPath, Inc. (NYSE:PATH)

Key Points

• Victory Capital Management Inc. raised its stake in UiPath by 236.7% in the first quarter, acquiring additional shares worth approximately $1.76 million.
• Multiple institutional investors increased their positions in UiPath, with notable moves from Norges Bank and Senvest Management, contributing to around 62.50% of the stock being owned by hedge funds and institutional investors.
• UiPath recently reported earnings, posting $0.11 EPS for the quarter, exceeding estimates, and experienced a 6.4% year-over-year revenue increase to $356.62 million.

Victory Capital Management Inc. boosted its stake in UiPath, Inc. (NYSE:PATH - Free Report) by 236.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,400 shares of the company's stock after buying an additional 120,490 shares during the period. Victory Capital Management Inc.'s holdings in UiPath were worth $1,765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PATH. Versant Capital Management Inc boosted its position in shares of UiPath by 198.6% during the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock valued at $31,000 after purchasing an additional 1,970 shares in the last quarter. CX Institutional bought a new position in shares of UiPath during the 1st quarter valued at about $36,000. True Wealth Design LLC boosted its position in shares of UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock valued at $66,000 after purchasing an additional 801 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of UiPath during the 4th quarter valued at about $102,000. Finally, OMNI 360 Wealth Inc. bought a new position in shares of UiPath during the 1st quarter valued at about $112,000. Institutional investors own 62.50% of the company's stock.

Insiders Place Their Bets

In other UiPath news, CEO Daniel Dines sold 9,988 shares of UiPath stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $12.00, for a total transaction of $119,856.00. Following the sale, the chief executive officer owned 4,598,388 shares in the company, valued at $55,180,656. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 831,310 shares of company stock worth $10,428,922 in the last 90 days. 23.19% of the stock is owned by insiders.

UiPath Price Performance

Shares of UiPath stock traded down $0.64 during midday trading on Friday, hitting $11.11. The company had a trading volume of 19,228,927 shares, compared to its average volume of 12,787,786. The business's 50 day simple moving average is $12.65 and its two-hundred day simple moving average is $12.39. The stock has a market cap of $5.94 billion, a PE ratio of -92.58, a P/E/G ratio of 15.39 and a beta of 1.03. UiPath, Inc. has a 1-year low of $9.38 and a 1-year high of $15.93.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.11 earnings per share (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%. UiPath's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $0.13 earnings per share. On average, sell-side analysts expect that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PATH shares. Barclays reaffirmed an "equal weight" rating on shares of UiPath in a research note on Friday, May 30th. DA Davidson raised shares of UiPath to a "hold" rating in a research note on Tuesday, July 22nd. BMO Capital Markets increased their price target on shares of UiPath from $11.50 to $15.50 and gave the stock a "market perform" rating in a research report on Friday, May 30th. Evercore ISI increased their price target on shares of UiPath from $11.00 to $15.00 and gave the stock an "in-line" rating in a research report on Friday, May 30th. Finally, Needham & Company LLC reissued a "hold" 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, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $13.83.

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.