UiPath Inc. (NYSE:PATH) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its position in UiPath Inc. (NYSE:PATH) by 524.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,900 shares of the company’s stock after acquiring an additional 123,380 shares during the quarter. Cerity Partners LLC’s holdings in UiPath were worth $1,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PATH. Charles Schwab Investment Management Inc. boosted its stake in shares of UiPath by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock valued at $36,997,000 after purchasing an additional 291,171 shares during the period. Ontario Teachers Pension Plan Board increased its position in shares of UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after acquiring an additional 62,650 shares during the period. Princeton Capital Management LLC raised its stake in shares of UiPath by 22.2% in the third quarter. Princeton Capital Management LLC now owns 27,855 shares of the company’s stock valued at $357,000 after acquiring an additional 5,064 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in UiPath by 8.0% in the third quarter. Pathstone Holdings LLC now owns 153,617 shares of the company’s stock valued at $1,966,000 after purchasing an additional 11,427 shares during the period. Finally, LMR Partners LLP purchased a new stake in UiPath during the 3rd quarter worth about $561,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the sale, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PATH shares. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price objective on shares of UiPath in a research report on Friday, September 6th. Evercore ISI increased their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, BMO Capital Markets raised their target price on UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, UiPath currently has a consensus rating of “Hold” and an average price target of $17.47.

UiPath Trading Up 2.2 %

Shares of NYSE:PATH opened at $14.52 on Tuesday. The stock’s 50-day moving average price is $12.90 and its two-hundred day moving average price is $12.91. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of -72.60 and a beta of 0.87. UiPath Inc. has a 12-month low of $10.37 and a 12-month high of $27.87.

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

About UiPath

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.