Edgestream Partners L.P. Invests $1.57 Million in UiPath Inc. (NYSE:PATH)

Edgestream Partners L.P. purchased a new position in UiPath Inc. (NYSE:PATH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 94,649 shares of the healthcare company’s stock, valued at approximately $1,568,000.

Several other institutional investors have also recently made changes to their positions in the company. Creative Planning increased its holdings in shares of UiPath by 7.0% in the second quarter. Creative Planning now owns 10,163 shares of the healthcare company’s stock worth $185,000 after purchasing an additional 666 shares during the period. Voya Investment Management LLC increased its holdings in shares of UiPath by 1.2% in the fourth quarter. Voya Investment Management LLC now owns 58,567 shares of the healthcare company’s stock worth $744,000 after purchasing an additional 719 shares during the period. Daiwa Securities Group Inc. grew its position in UiPath by 24.4% in the first quarter. Daiwa Securities Group Inc. now owns 5,705 shares of the healthcare company’s stock worth $100,000 after acquiring an additional 1,120 shares in the last quarter. Treasurer of the State of North Carolina grew its position in UiPath by 0.7% in the first quarter. Treasurer of the State of North Carolina now owns 164,798 shares of the healthcare company’s stock worth $2,894,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in UiPath by 5.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 21,790 shares of the healthcare company’s stock worth $277,000 after acquiring an additional 1,202 shares in the last quarter. Institutional investors own 59.04% of the company’s stock.

Insider Buying and Selling

In related news, Director Rich Wong sold 100,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $18.07, for a total value of $1,807,000.00. Following the completion of the transaction, the director now directly owns 756,599 shares of the company’s stock, valued at $13,671,743.93. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Rich Wong sold 100,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $18.07, for a total value of $1,807,000.00. Following the completion of the transaction, the director now directly owns 756,599 shares of the company’s stock, valued at $13,671,743.93. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $16.10, for a total transaction of $644,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,143,754 shares of the company’s stock, valued at $18,414,439.40. The disclosure for this sale can be found here. Insiders sold a total of 280,000 shares of company stock valued at $4,784,200 over the last three months. Corporate insiders own 31.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their target price on shares of UiPath from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Thursday, September 7th. Bank of America upped their target price on shares of UiPath from $20.00 to $22.00 in a research report on Thursday, September 7th. Barclays upped their target price on shares of UiPath from $16.00 to $18.00 in a research report on Thursday, September 7th. DA Davidson upped their target price on shares of UiPath from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, September 7th. Finally, Macquarie upped their target price on shares of UiPath from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.84.

UiPath Trading Up 1.6 %

UiPath stock opened at $18.56 on Tuesday. The firm has a 50-day moving average of $16.71 and a 200-day moving average of $16.58. The firm has a market cap of $10.52 billion, a P/E ratio of -57.98 and a beta of 0.60. UiPath Inc. has a 1-year low of $10.98 and a 1-year high of $19.94.

UiPath (NYSE:PATH) last posted its earnings results on Wednesday, September 6th. The healthcare company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $287.31 million during the quarter, compared to analyst estimates of $281.48 million. UiPath had a negative net margin of 15.47% and a negative return on equity of 7.49%. UiPath’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.18) earnings per share. Research analysts forecast that UiPath Inc. will post -0.28 earnings per share for the current fiscal year.

UiPath 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.