UiPath Inc. (NYSE:PATH) Shares Purchased by Circumference Group LLC

Circumference Group LLC grew its stake in shares of UiPath Inc. (NYSE:PATH) by 20.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. UiPath comprises about 3.8% of Circumference Group LLC’s holdings, making the stock its 12th largest position. Circumference Group LLC owned 0.05% of UiPath worth $3,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new stake in UiPath during the third quarter valued at about $26,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of UiPath during the 3rd quarter worth about $26,000. Hantz Financial Services Inc. purchased a new stake in shares of UiPath during the 2nd quarter worth about $28,000. Redwood Wealth Management Group LLC purchased a new position in UiPath in the second quarter valued at approximately $43,000. Finally, Allspring Global Investments Holdings LLC lifted its position in UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after buying an additional 2,274 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the sale, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PATH shares. Bank of America raised their target price on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Barclays boosted their price objective on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. DA Davidson increased their target price on UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company reduced their price target on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, TD Cowen decreased their price target on UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, UiPath currently has a consensus rating of “Hold” and a consensus price target of $17.47.

UiPath Price Performance

UiPath stock opened at $14.21 on Monday. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87. The company has a fifty day moving average price of $12.90 and a two-hundred day moving average price of $12.97. The company has a market cap of $7.81 billion, a PE ratio of -71.05 and a beta of 0.87.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. During the same period in the previous year, the business posted ($0.09) EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts anticipate that UiPath Inc. will post -0.23 earnings per share for the current 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, 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.