Horrell Capital Management Inc. Increases Stake in UiPath Inc. (NYSE:PATH)

Horrell Capital Management Inc. raised its position in UiPath Inc. (NYSE:PATH) by 20.8% during the third quarter, HoldingsChannel reports. The firm owned 290,000 shares of the healthcare company’s stock after purchasing an additional 50,000 shares during the period. Horrell Capital Management Inc.’s holdings in UiPath were worth $3,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PATH. Future Financial Wealth Managment LLC purchased a new position in shares of UiPath during the 3rd quarter worth $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of UiPath during the 3rd quarter worth $26,000. ORG Partners LLC raised its holdings in shares of UiPath by 875.6% during the 1st quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock worth $27,000 after acquiring an additional 1,112 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of UiPath during the 2nd quarter worth $28,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in UiPath in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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 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 sale, the chief financial officer now owns 849,917 shares in the company, valued at approximately $10,258,498.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.37% of the stock is owned by company insiders.

UiPath Trading Up 1.6 %

PATH stock traded up $0.20 during trading on Tuesday, hitting $12.68. 1,081,571 shares of the company’s stock were exchanged, compared to its average volume of 9,631,373. 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 $12.51 and a two-hundred day moving average price of $13.98. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of -62.37 and a beta of 0.88.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, beating 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 analysts’ expectations of $303.69 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts anticipate that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, September 6th. BMO Capital Markets boosted their price objective on UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Barclays boosted their price objective on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Wells Fargo & Company lowered their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UiPath has a consensus rating of “Hold” and an average target price of $17.47.

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.