IQ EQ FUND MANAGEMENT IRELAND Ltd Takes $396,000 Position in UiPath Inc. (NYSE:PATH)

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of UiPath Inc. (NYSE:PATH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,236 shares of the healthcare company’s stock, valued at approximately $396,000.

Several other hedge funds have also recently made changes to their positions in the business. Intech Investment Management LLC raised its position in UiPath by 3.1% in the 4th quarter. Intech Investment Management LLC now owns 14,324 shares of the healthcare company’s stock worth $356,000 after purchasing an additional 426 shares during the period. Global Financial Private Client LLC raised its position in UiPath by 9.3% in the 1st quarter. Global Financial Private Client LLC now owns 6,471 shares of the healthcare company’s stock worth $144,000 after purchasing an additional 551 shares during the period. Principal Financial Group Inc. raised its position in UiPath by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 36,772 shares of the healthcare company’s stock worth $834,000 after purchasing an additional 622 shares during the period. GAMMA Investing LLC raised its position in UiPath by 40.2% in the 1st quarter. GAMMA Investing LLC now owns 2,204 shares of the healthcare company’s stock worth $50,000 after purchasing an additional 632 shares during the period. Finally, Lindbrook Capital LLC raised its position in UiPath by 46.0% in the 1st quarter. Lindbrook Capital LLC now owns 2,027 shares of the healthcare company’s stock worth $46,000 after purchasing an additional 639 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial reissued a “hold” rating and issued a $14.00 price objective (down from $32.00) on shares of UiPath in a research report on Thursday, May 30th. William Blair downgraded shares of UiPath from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 30th. Canaccord Genuity Group dropped their target price on shares of UiPath from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Barclays dropped their price objective on shares of UiPath from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, Scotiabank dropped their price objective on shares of UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 29th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, UiPath presently has an average rating of “Hold” and a consensus price target of $17.94.

UiPath Stock Performance

NYSE:PATH traded down $0.05 during midday trading on Friday, reaching $12.79. 4,474,126 shares of the stock traded hands, compared to its average volume of 9,665,615. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $27.87. The business has a 50-day moving average of $12.16 and a two-hundred day moving average of $17.25. The stock has a market capitalization of $7.33 billion, a PE ratio of -80.28 and a beta of 0.86.

UiPath (NYSE:PATH) last posted its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $335.11 million during 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%. Research analysts anticipate that UiPath Inc. will post -0.22 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.