Seven Eight Capital LP Has $5.82 Million Stock Holdings in UiPath Inc. (NYSE:PATH)

Seven Eight Capital LP increased its stake in UiPath Inc. (NYSE:PATH) by 118.4% during the second quarter, Holdings Channel reports. The firm owned 458,562 shares of the healthcare company’s stock after acquiring an additional 248,573 shares during the period. UiPath makes up approximately 0.6% of Seven Eight Capital LP’s investment portfolio, making the stock its 11th biggest position. Seven Eight Capital LP’s holdings in UiPath were worth $5,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PATH. Norges Bank acquired a new stake in shares of UiPath in the 4th quarter valued at approximately $165,749,000. Vanguard Group Inc. increased its holdings in shares of UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after buying an additional 2,133,078 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of UiPath in the 4th quarter valued at $48,267,000. Renaissance Technologies LLC acquired a new stake in shares of UiPath during the 2nd quarter valued at $13,280,000. Finally, Dimensional Fund Advisors LP grew its position in UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock worth $35,296,000 after acquiring an additional 754,519 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Down 1.7 %

Shares of UiPath stock opened at $12.27 on Wednesday. The company has a market cap of $7.03 billion, a PE ratio of -76.69 and a beta of 0.87. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The business has a 50 day moving average price of $12.12 and a 200-day moving average price of $16.06.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $303.69 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts anticipate that UiPath Inc. will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 47,671 shares of the company’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 value 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 $10,258,498.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 22.37% of the company’s stock.

Analysts Set New Price Targets

PATH has been the topic of a number of recent research reports. Evercore ISI lifted their price target on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Macquarie cut shares of UiPath from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $12.00 in a research report on Monday, June 3rd. Bank of America raised their price target on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. DA Davidson boosted their price objective on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Barclays raised their target price on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.71.

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.