Invenomic Capital Management LP Invests $4.55 Million in UiPath Inc. (NYSE:PATH)

Invenomic Capital Management LP acquired a new stake in shares of UiPath Inc. (NYSE:PATH) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 355,122 shares of the company’s stock, valued at approximately $4,546,000. Invenomic Capital Management LP owned about 0.06% of UiPath as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 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 acquired a new stake in UiPath in the 3rd quarter worth about $26,000. Hantz Financial Services Inc. acquired a new stake in UiPath in the 2nd quarter worth about $28,000. Redwood Wealth Management Group LLC purchased a new stake in UiPath in the 2nd quarter valued at about $43,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after acquiring an additional 2,274 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Activity

In related news, CFO Ashim Gupta sold 47,671 shares of the business’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. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 22.37% of the company’s stock.

UiPath Trading Down 1.0 %

PATH opened at $14.38 on Wednesday. UiPath Inc. has a twelve month low of $10.37 and a twelve month 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. The company has a fifty day simple moving average of $12.93 and a 200 day simple moving average of $12.87.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. On average, analysts forecast that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PATH shares. Evercore ISI boosted their target price 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. Barclays boosted their price objective on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Wells Fargo & Company cut their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their price target on UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. cut their price objective on UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Sixteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.47.

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.