Sanctuary Advisors LLC Buys New Holdings in UiPath Inc. (NYSE:PATH)

Sanctuary Advisors LLC purchased a new stake in shares of UiPath Inc. (NYSE:PATH) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 12,233 shares of the healthcare company’s stock, valued at approximately $155,000.

A number of other hedge funds have also added to or reduced their stakes in PATH. Pacer Advisors Inc. acquired a new position in UiPath during the 2nd quarter valued at about $69,180,000. Vanguard Group Inc. boosted its stake in UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after purchasing an additional 2,133,078 shares during the last quarter. Renaissance Technologies LLC acquired a new position in UiPath during the 2nd quarter valued at about $13,280,000. AQR Capital Management LLC boosted its stake in UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company’s stock valued at $20,385,000 after purchasing an additional 892,845 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock worth $35,296,000 after buying an additional 754,519 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PATH shares. TD Cowen cut their target price on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. DA Davidson boosted their target price on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. BMO Capital Markets boosted their target price on UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Friday, September 6th. Finally, Barclays boosted their target price on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, UiPath has an average rating of “Hold” and a consensus price target of $17.71.

Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction on Friday, September 13th. The shares were 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 22.37% of the company’s stock.

UiPath Price Performance

Shares of PATH stock opened at $13.06 on Monday. The company’s fifty day simple moving average is $12.40 and its two-hundred day simple moving average is $14.36. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $27.87. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of -81.63 and a beta of 0.88.

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