Jacobs Levy Equity Management Inc. Acquires 3,411,562 Shares of UiPath Inc. (NYSE:PATH)

Jacobs Levy Equity Management Inc. grew its holdings in UiPath Inc. (NYSE:PATH) by 554.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,026,502 shares of the company’s stock after purchasing an additional 3,411,562 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in UiPath were worth $51,539,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PATH. Future Financial Wealth Managment LLC acquired a new stake in UiPath in the third quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of UiPath in the 3rd quarter worth $26,000. Hantz Financial Services Inc. acquired a new position in UiPath during the 2nd quarter valued at about $28,000. Redwood Wealth Management Group LLC purchased a new stake in UiPath in the second quarter valued at about $43,000. Finally, Allspring Global Investments Holdings LLC boosted 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 worth $52,000 after acquiring an additional 2,274 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling

In related 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 value of $575,388.97. Following the completion of the sale, the chief financial officer now owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. The trade was a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PATH. Evercore ISI upped their price objective on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. TD Cowen decreased their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, September 6th. JPMorgan Chase & Co. dropped their price objective on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Barclays upped their target price on UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Wednesday, October 23rd. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.47.

UiPath Price Performance

NYSE:PATH opened at $14.38 on Wednesday. The company has a 50 day moving average price of $12.93 and a 200-day moving average price of $12.87. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $27.87. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of -71.90 and a beta of 0.94.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $303.69 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

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.