Tidal Investments LLC Grows Stock Holdings in UiPath, Inc. $PATH

Tidal Investments LLC raised its holdings in shares of UiPath, Inc. (NYSE:PATH) by 24.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 794,084 shares of the company’s stock after buying an additional 155,521 shares during the quarter. Tidal Investments LLC’s holdings in UiPath were worth $8,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new stake in shares of UiPath in the 2nd quarter worth about $27,000. Atlas Capital Advisors Inc. bought a new position in shares of UiPath in the 4th quarter valued at about $37,000. AdvisorNet Financial Inc grew its position in UiPath by 750.0% in the first quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company’s stock worth $38,000 after acquiring an additional 3,000 shares in the last quarter. REAP Financial Group LLC purchased a new position in UiPath in the fourth quarter worth about $44,000. Finally, Global Retirement Partners LLC bought a new stake in UiPath during the second quarter worth approximately $57,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at UiPath

In other UiPath news, CEO Daniel Dines sold 1,402,347 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $16.07, for a total transaction of $22,535,716.29. Following the transaction, the chief executive officer directly owned 26,491,238 shares in the company, valued at $425,714,194.66. This represents a 5.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.44% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PATH has been the topic of a number of recent research reports. UBS Group set a $16.00 price objective on UiPath in a research report on Friday, September 4th. Truist Financial lifted their target price on UiPath from $12.00 to $17.00 and gave the stock a “hold” rating in a report on Friday, September 4th. Needham & Company LLC boosted their target price on UiPath from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Canaccord Genuity Group restated a “hold” rating and set a $17.00 price target (up from $15.00) on shares of UiPath in a report on Friday, September 4th. Finally, TD Cowen raised their price target on UiPath from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.75.

UiPath Price Performance

PATH stock opened at $13.76 on Friday. The company has a market capitalization of $7.13 billion, a PE ratio of 20.53, a P/E/G ratio of 1.35 and a beta of 1.02. The firm’s 50-day moving average is $14.20 and its 200 day moving average is $12.05. UiPath, Inc. has a 12 month low of $9.20 and a 12 month high of $19.84.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. The firm had revenue of $410.26 million during the quarter, compared to analyst estimates of $397.77 million. UiPath had a return on equity of 9.70% and a net margin of 21.03%.UiPath’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. Sell-side analysts forecast that UiPath, Inc. will post 0.47 EPS for the current fiscal year.

About UiPath

UiPath Inc (NYSE: PATH) develops enterprise automation software designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation (RPA), artificial intelligence, workflow orchestration and process intelligence to support automation across areas such as finance, customer service, human resources, information technology and operations.

The UiPath Platform includes tools for discovering and analyzing business processes, building and managing software robots, processing documents, testing applications and coordinating automated workflows.