Stanley Laman Group Ltd. Buys 388,971 Shares of UiPath Inc. (NYSE:PATH)

Stanley Laman Group Ltd. increased its stake in shares of UiPath Inc. (NYSE:PATH) by 111.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 736,960 shares of the company’s stock after buying an additional 388,971 shares during the period. UiPath accounts for about 1.2% of Stanley Laman Group Ltd.’s portfolio, making the stock its 12th largest holding. Stanley Laman Group Ltd. owned 0.13% of UiPath worth $7,591,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PATH. NorthCrest Asset Manangement LLC grew its holdings in UiPath by 87.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 20,929 shares of the company’s stock valued at $216,000 after buying an additional 9,782 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of UiPath by 100.0% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 85,290 shares of the company’s stock valued at $878,000 after acquiring an additional 42,645 shares in the last quarter. CX Institutional acquired a new position in shares of UiPath in the first quarter valued at about $36,000. Pallas Capital Advisors LLC increased its position in UiPath by 32.2% during the first quarter. Pallas Capital Advisors LLC now owns 84,776 shares of the company’s stock worth $873,000 after acquiring an additional 20,667 shares during the period. Finally, Washington Capital Management Inc. raised its stake in UiPath by 23.5% in the 1st quarter. Washington Capital Management Inc. now owns 42,000 shares of the company’s stock worth $433,000 after purchasing an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of UiPath from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, June 2nd. Mizuho cut their target price on UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Truist Financial increased their target price on UiPath from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, May 30th. Barclays restated an “equal weight” rating on shares of UiPath in a research report on Friday, May 30th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of UiPath in a research report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, UiPath presently has a consensus rating of “Hold” and a consensus price target of $13.83.

UiPath Price Performance

PATH stock opened at $12.66 on Friday. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of -79.13 and a beta of 1.06. The company has a 50 day simple moving average of $11.98 and a 200 day simple moving average of $12.68. UiPath Inc. has a 1 year low of $9.38 and a 1 year high of $15.93.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. UiPath had a negative net margin of 6.49% and a negative return on equity of 4.14%. The company had revenue of $356.62 million during the quarter, compared to the consensus estimate of $332.17 million. During the same period in the prior year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that UiPath Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at UiPath

In related news, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total value of $127,375.00. Following the completion of the sale, the chief accounting officer now directly owns 314,891 shares in the company, valued at $3,208,739.29. This represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total value of $1,186,527.95. Following the transaction, the chief financial officer now directly owns 987,322 shares of the company’s stock, valued at approximately $11,857,737.22. This represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.19% 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.