Qube Research & Technologies Ltd Makes New Investment in UiPath Inc. (NASDAQ:PATH)

Qube Research & Technologies Ltd bought a new position in shares of UiPath Inc. (NASDAQ:PATH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 33,548 shares of the healthcare company’s stock, valued at approximately $2,279,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trustcore Financial Services LLC acquired a new stake in UiPath during the 2nd quarter worth $29,000. Sierra Capital LLC acquired a new stake in UiPath during the 2nd quarter worth $34,000. Harbor Investment Advisory LLC acquired a new position in shares of UiPath in the 2nd quarter valued at $42,000. Valley National Advisers Inc. acquired a new position in shares of UiPath in the 2nd quarter valued at $48,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of UiPath in the 2nd quarter valued at $51,000. 31.14% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:PATH opened at $49.99 on Thursday. The company has a 50 day moving average of $57.51. UiPath Inc. has a one year low of $47.20 and a one year high of $90.00.

UiPath (NASDAQ:PATH) last issued its quarterly earnings data on Monday, September 6th. The healthcare company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The company had revenue of $195.52 million during the quarter, compared to the consensus estimate of $186.72 million. UiPath’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, equities analysts expect that UiPath Inc. will post -0.82 earnings per share for the current year.

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of UiPath from $74.00 to $65.00 and set a “sector perform” rating for the company in a report on Thursday, October 7th. Morgan Stanley boosted their price target on shares of UiPath from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, September 8th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of UiPath in a report on Wednesday, October 6th. Summit Insights began coverage on shares of UiPath in a research report on Monday, July 12th. They issued a “sell” rating and a $40.00 price objective on the stock. Finally, Oppenheimer reaffirmed a “hold” rating on shares of UiPath in a research report on Wednesday, September 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $70.81.

In other news, CFO Ashim Gupta sold 26,404 shares of the firm’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $62.00, for a total transaction of $1,637,048.00. Following the completion of the transaction, the chief financial officer now owns 638,091 shares of the company’s stock, valued at $39,561,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ted Kummert sold 50,000 shares of the stock in a transaction on Thursday, September 9th. The stock was sold at an average price of $56.09, for a total transaction of $2,804,500.00. Following the sale, the executive vice president now owns 888,590 shares of the company’s stock, valued at $49,841,013.10. The disclosure for this sale can be found here. In the last three months, insiders sold 460,427 shares of company stock valued at $27,289,358. 28.60% of the stock is owned by insiders.

UiPath 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, and Japan. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.

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Institutional Ownership by Quarter for UiPath (NASDAQ:PATH)

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