UiPath Inc. (NYSE:PATH) Shares Bought by Senvest Management LLC

Senvest Management LLC lifted its stake in shares of UiPath Inc. (NYSE:PATH) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,894,483 shares of the company’s stock after purchasing an additional 1,559,500 shares during the period. UiPath accounts for about 4.9% of Senvest Management LLC’s portfolio, making the stock its 5th largest holding. Senvest Management LLC owned approximately 1.98% of UiPath worth $139,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in UiPath during the second quarter worth about $69,180,000. Renaissance Technologies LLC purchased a new stake in shares of UiPath during the 2nd quarter valued at approximately $13,280,000. AQR Capital Management LLC raised its position in shares of UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the company’s stock valued at $20,385,000 after buying an additional 892,845 shares during the period. Dimensional Fund Advisors LP grew its position in UiPath by 37.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock worth $35,296,000 after acquiring an additional 754,519 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in UiPath by 2,495.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 682,078 shares of the company’s stock worth $8,649,000 after acquiring an additional 655,798 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at $10,258,498.19. This represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America increased their price target on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company dropped their price target on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley restated an “equal weight” rating and issued a $15.00 price objective on shares of UiPath in a report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research report on Friday, September 6th. Sixteen equities 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, UiPath presently has an average rating of “Hold” and a consensus price target of $17.47.

UiPath Trading Up 4.1 %

Shares of PATH opened at $14.24 on Friday. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of -71.20 and a beta of 0.87. The firm’s fifty day simple moving average is $12.71 and its 200-day simple moving average is $13.16. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87.

UiPath (NYSE:PATH) last announced its quarterly 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 return on equity of 3.98% and a negative net margin of 8.13%. The company had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same period in the previous year, the business earned ($0.09) EPS. UiPath’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts predict 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.