Bank of Montreal Can Purchases 120,396 Shares of UiPath Inc. (NYSE:PATH)

Bank of Montreal Can boosted its position in shares of UiPath Inc. (NYSE:PATH) by 492.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 144,847 shares of the company’s stock after purchasing an additional 120,396 shares during the quarter. Bank of Montreal Can’s holdings in UiPath were worth $1,854,000 as of its most recent filing with the Securities and Exchange Commission.

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

UiPath Stock Performance

NYSE PATH opened at $14.95 on Friday. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The stock’s 50 day moving average price is $13.01 and its two-hundred day moving average price is $12.85. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of -76.65 and a beta of 0.94.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PATH shares. Bank of America raised their target price on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Barclays boosted their price objective on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Wednesday, October 23rd. DA Davidson lifted their price target 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, JPMorgan Chase & Co. lowered 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. Sixteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.47.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction 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 $10,258,498.19. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.37% of the stock is currently owned by corporate insiders.

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.