Traynor Capital Management Inc. Makes New $516,000 Investment in UiPath Inc. (NYSE:PATH)

Traynor Capital Management Inc. acquired a new position in shares of UiPath Inc. (NYSE:PATH) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,758 shares of the healthcare company’s stock, valued at approximately $516,000.

Several other hedge funds have also recently bought and sold shares of PATH. Renaissance Capital LLC grew its holdings in shares of UiPath by 3.0% during the first quarter. Renaissance Capital LLC now owns 250,295 shares of the healthcare company’s stock worth $5,674,000 after purchasing an additional 7,269 shares during the last quarter. GAMMA Investing LLC boosted its holdings in UiPath by 40.2% in the first quarter. GAMMA Investing LLC now owns 2,204 shares of the healthcare company’s stock valued at $50,000 after acquiring an additional 632 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in UiPath by 94.4% in the fourth quarter. Quadrature Capital Ltd now owns 253,112 shares of the healthcare company’s stock valued at $6,289,000 after acquiring an additional 122,931 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in UiPath by 50.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,135 shares of the healthcare company’s stock valued at $475,000 after acquiring an additional 6,385 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in UiPath by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock valued at $946,028,000 after purchasing an additional 334,085 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the completion of the transaction, the chief financial officer now owns 946,848 shares of the company’s stock, valued at approximately $18,738,121.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 22.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PATH shares. TD Cowen restated a “hold” rating and issued a $17.00 price target (down from $28.00) on shares of UiPath in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of UiPath in a report on Monday, April 1st. Truist Financial reaffirmed a “hold” rating and issued a $14.00 price objective (down from $32.00) on shares of UiPath in a report on Thursday, May 30th. Evercore ISI dropped their price objective on UiPath from $27.00 to $13.00 and set an “in-line” rating for the company in a report on Thursday, May 30th. Finally, Wells Fargo & Company dropped their price objective on UiPath from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday. Sixteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.06.

UiPath Stock Up 0.5 %

Shares of PATH opened at $12.02 on Tuesday. UiPath Inc. has a 12-month low of $11.07 and a 12-month high of $27.87. The business has a 50-day simple moving average of $16.71 and a two-hundred day simple moving average of $21.10.

UiPath (NYSE:PATH) last issued its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The business had revenue of $335.11 million during the quarter, compared to analysts’ expectations of $332.84 million. As a group, analysts expect that UiPath Inc. will post -0.2 EPS 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.