Seven Eight Capital LP Has $5.82 Million Stake in UiPath Inc. (NYSE:PATH)

Seven Eight Capital LP grew its holdings in UiPath Inc. (NYSE:PATH) by 118.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 458,562 shares of the healthcare company’s stock after buying an additional 248,573 shares during the quarter. UiPath makes up 0.6% of Seven Eight Capital LP’s portfolio, making the stock its 11th largest position. Seven Eight Capital LP owned 0.08% of UiPath worth $5,815,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PATH. Vanguard Group Inc. grew its stake in shares of UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after purchasing an additional 2,133,078 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of UiPath by 0.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 295,370 shares of the healthcare company’s stock valued at $6,696,000 after buying an additional 1,571 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of UiPath by 4.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 231,694 shares of the healthcare company’s stock valued at $5,240,000 after acquiring an additional 9,393 shares during the period. Acadian Asset Management LLC boosted its holdings in UiPath by 245.1% in the first quarter. Acadian Asset Management LLC now owns 45,700 shares of the healthcare company’s stock valued at $1,032,000 after acquiring an additional 32,456 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in UiPath by 38.4% in the fourth quarter. Neuberger Berman Group LLC now owns 20,133 shares of the healthcare company’s stock worth $500,000 after purchasing an additional 5,586 shares during the period. 62.50% of the stock is owned by institutional investors.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were 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 owns 849,917 shares in the company, valued at approximately $10,258,498.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. TD Cowen cut their price target on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. cut their target price on UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Canaccord Genuity Group lowered their price target on UiPath from $30.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, KeyCorp restated a “sector weight” rating on shares of UiPath in a report on Thursday, May 30th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.71.

UiPath Price Performance

UiPath stock opened at $12.27 on Wednesday. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The firm has a market capitalization of $7.03 billion, a PE ratio of -76.69 and a beta of 0.87. The company’s 50-day moving average is $12.12 and its 200-day moving average is $16.06.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. As a group, analysts expect that UiPath Inc. will post -0.23 EPS for the current year.

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, 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.