Quantbot Technologies LP Buys 88,468 Shares of UiPath Inc. (NYSE:PATH)

Quantbot Technologies LP raised its stake in UiPath Inc. (NYSE:PATH) by 667.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,718 shares of the company’s stock after acquiring an additional 88,468 shares during the period. Quantbot Technologies LP’s holdings in UiPath were worth $1,302,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in UiPath by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,037 shares of the company’s stock valued at $69,000 after purchasing an additional 787 shares during the last quarter. Cowa LLC lifted its position in shares of UiPath by 4.4% during the third quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after purchasing an additional 1,118 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of UiPath by 6.8% in the third quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock valued at $334,000 after purchasing an additional 1,654 shares in the last quarter. Amalgamated Bank raised its position in UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after purchasing an additional 1,811 shares during the last quarter. Finally, Bangor Savings Bank increased its stake in shares of UiPath by 2.9% in the 2nd quarter. Bangor Savings Bank now owns 67,040 shares of the company’s stock valued at $850,000 after buying an additional 1,873 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the transaction, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. This represents a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI raised their price target on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Wednesday, October 23rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of UiPath in a research note on Friday, September 6th. JPMorgan Chase & Co. cut their price target on UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Barclays lifted 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. Sixteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, UiPath currently has an average rating of “Hold” and a consensus price target of $17.47.

UiPath Stock Performance

Shares of PATH opened at $14.21 on Friday. The stock has a 50 day simple moving average of $12.90 and a 200 day simple moving average of $13.02. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87. The firm has a market capitalization of $7.81 billion, a PE ratio of -71.05 and a beta of 0.87.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Equities research analysts predict that UiPath Inc. will post -0.23 EPS for the current fiscal year.

UiPath Company 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.