Magnetar Financial LLC Invests $1.16 Million in UiPath Inc. (NYSE:PATH)

Magnetar Financial LLC bought a new position in shares of UiPath Inc. (NYSE:PATH) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 51,186 shares of the healthcare company’s stock, valued at approximately $1,160,000.

Several other hedge funds also recently made changes to their positions in PATH. Mark Sheptoff Financial Planning LLC bought a new position in UiPath in the fourth quarter valued at approximately $25,000. HighMark Wealth Management LLC bought a new position in UiPath in the fourth quarter valued at approximately $27,000. ORG Partners LLC increased its stake in UiPath by 875.6% in the first quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock valued at $27,000 after acquiring an additional 1,112 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in UiPath in the fourth quarter valued at approximately $29,000. Finally, GAMMA Investing LLC bought a new position in UiPath in the fourth quarter valued at approximately $36,000. 62.50% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $19.79, for a total value of $791,600.00. Following the completion of the sale, the chief financial officer now owns 946,848 shares in the company, valued at $18,738,121.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 22.37% of the stock is currently owned by corporate insiders.

UiPath Stock Up 1.3 %

NYSE PATH traded up $0.16 on Friday, hitting $12.36. 7,086,519 shares of the company were exchanged, compared to its average volume of 9,304,966. UiPath Inc. has a 12 month low of $11.07 and a 12 month high of $27.87. The stock has a fifty day moving average of $13.30 and a 200-day moving average of $19.09.

UiPath (NYSE:PATH) last released its quarterly earnings data on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $335.11 million for the quarter, compared to the consensus estimate of $332.84 million. UiPath had a negative net margin of 6.41% and a negative return on equity of 2.97%. As a group, sell-side analysts forecast that UiPath Inc. will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Evercore ISI decreased their price objective on shares of UiPath from $27.00 to $13.00 and set an “in-line” rating on the stock in a research note on Thursday, May 30th. Mizuho cut their target price on shares of UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. KeyCorp restated a “sector weight” rating on shares of UiPath in a research report on Thursday, May 30th. Barclays cut their target price on shares of UiPath from $25.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Finally, Morgan Stanley cut their target price on shares of UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.06.

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.