UiPath Inc. (NYSE:PATH) Stake Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of UiPath Inc. (NYSE:PATH) by 11.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,890,360 shares of the company’s stock after purchasing an additional 291,171 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.53% of UiPath worth $36,997,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board grew its position in UiPath by 136.0% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after purchasing an additional 62,650 shares during the last quarter. LMR Partners LLP bought a new stake in shares of UiPath during the 3rd quarter worth about $561,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of UiPath by 164.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 95,469 shares of the company’s stock worth $1,222,000 after acquiring an additional 59,435 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of UiPath by 3,389.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 89,189 shares of the company’s stock valued at $1,131,000 after purchasing an additional 86,633 shares during the period. Finally, Armistice Capital LLC boosted its position in shares of UiPath by 94.9% during the 2nd quarter. Armistice Capital LLC now owns 726,520 shares of the company’s stock valued at $9,212,000 after purchasing an additional 353,781 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Performance

UiPath stock opened at $14.52 on Tuesday. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The firm has a market capitalization of $7.99 billion, a PE ratio of -72.60 and a beta of 0.87. The business’s 50-day simple moving average is $12.90 and its 200-day simple moving average is $12.91.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. UiPath’s revenue was up 10.0% compared to the same quarter last year. Research analysts forecast that UiPath Inc. will post -0.23 earnings per share for the current year.

Insider Activity 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 transaction, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PATH has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price target on shares of UiPath in a research note on Friday, September 6th. TD Cowen reduced their price objective on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, September 6th. DA Davidson lifted their price objective on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets lifted their price target on UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.47.

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.