LMR Partners LLP Acquires Shares of 43,790 UiPath Inc. (NYSE:PATH)

LMR Partners LLP bought a new position in UiPath Inc. (NYSE:PATH) during the third quarter, Holdings Channel reports. The firm bought 43,790 shares of the healthcare company’s stock, valued at approximately $561,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new position in UiPath in the third quarter valued at $26,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of UiPath during the 3rd quarter valued at about $26,000. Hantz Financial Services Inc. purchased a new position in shares of UiPath in the 2nd quarter valued at about $28,000. Redwood Wealth Management Group LLC acquired a new position in UiPath in the 2nd quarter worth about $43,000. Finally, Allspring Global Investments Holdings LLC boosted its position in UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the healthcare company’s stock worth $52,000 after purchasing an additional 2,274 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.07, for a total value 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. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI lifted their target price on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. TD Cowen reduced their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Wednesday, October 23rd. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.47.

UiPath Price Performance

NYSE:PATH opened at $12.76 on Wednesday. The company’s 50-day moving average is $12.63 and its two-hundred day moving average is $13.25. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of -63.77 and a beta of 0.87. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $27.87.

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

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.