UiPath Inc. (NYSE:PATH) Stock Position Lifted by Circumference Group LLC

Circumference Group LLC lifted its stake in shares of UiPath Inc. (NYSE:PATH) by 20.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. UiPath comprises about 3.8% of Circumference Group LLC’s investment portfolio, making the stock its 12th largest holding. Circumference Group LLC’s holdings in UiPath were worth $3,712,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PATH. BMO Capital Markets boosted their price objective on UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 price target on shares of UiPath in a research report on Friday, September 6th. Wells Fargo & Company reduced their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. DA Davidson boosted their target price on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Bank of America raised their target price on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, UiPath currently has an average rating of “Hold” and an average target price of $17.47.

UiPath Trading Up 0.9 %

Shares of UiPath stock opened at $14.21 on Monday. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $27.87. The company has a market cap of $7.81 billion, a P/E ratio of -71.05 and a beta of 0.87. The stock has a 50-day moving average price of $12.90 and a 200 day moving average price of $12.97.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the firm earned ($0.09) earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction dated 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 sale, the chief financial officer now directly owns 849,917 shares in the company, valued at $10,258,498.19. The trade was a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.37% of the company’s stock.

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.