Invenomic Capital Management LP Purchases New Stake in UiPath, Inc. $PATH

Invenomic Capital Management LP purchased a new stake in shares of UiPath, Inc. (NYSE:PATH) in the 3rd quarter, Holdings Channel reports. The fund purchased 1,098,139 shares of the company’s stock, valued at approximately $14,693,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP bought a new position in shares of UiPath in the second quarter valued at about $102,559,000. Norges Bank bought a new stake in shares of UiPath during the 2nd quarter worth about $68,451,000. AQR Capital Management LLC grew its stake in UiPath by 76.0% in the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock valued at $145,732,000 after buying an additional 4,926,341 shares during the last quarter. TFG Asset Management GP Ltd raised its holdings in UiPath by 53.3% in the 2nd quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock valued at $175,645,000 after acquiring an additional 4,772,244 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in UiPath during the second quarter worth approximately $59,561,000. 62.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PATH shares. Barclays boosted their price objective on UiPath from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. Morgan Stanley raised UiPath from an “equal weight” rating to a “positive” rating in a report on Friday. DA Davidson reduced their price target on UiPath from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday. BMO Capital Markets reaffirmed a “market perform” rating on shares of UiPath in a report on Friday. Finally, Truist Financial lowered their price objective on UiPath from $17.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.27.

UiPath Trading Up 1.9%

Shares of UiPath stock opened at $11.58 on Monday. The firm has a market capitalization of $6.19 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.18 and a beta of 1.09. The firm’s 50 day moving average is $12.97 and its 200 day moving average is $14.02. UiPath, Inc. has a 1 year low of $9.38 and a 1 year high of $19.84.

UiPath (NYSE:PATH) last issued its earnings results on Wednesday, March 11th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. UiPath had a net margin of 17.53% and a return on equity of 5.69%. The firm had revenue of $481.11 million for the quarter, compared to analyst estimates of $464.81 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, research analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 67,468 shares of UiPath stock in a transaction on Monday, January 5th. The shares were sold at an average price of $16.10, for a total transaction of $1,086,234.80. Following the transaction, the chief financial officer owned 557,028 shares in the company, valued at approximately $8,968,150.80. The trade was a 10.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $15.01, for a total transaction of $675,450.00. Following the completion of the sale, the chief executive officer directly owned 27,893,585 shares in the company, valued at approximately $418,682,710.85. This represents a 0.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 742,468 shares of company stock worth $12,083,785 over the last three months. Insiders own 23.19% of the company’s stock.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.