Magnetar Financial LLC Acquires New Stake in UiPath Inc. (NYSE:PATH)

Magnetar Financial LLC acquired a new stake in UiPath Inc. (NYSE:PATH) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 51,186 shares of the healthcare company’s stock, valued at approximately $1,160,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PATH. Mark Sheptoff Financial Planning LLC purchased a new stake in UiPath during the 4th quarter worth about $25,000. HighMark Wealth Management LLC purchased a new stake in UiPath during the 4th quarter worth about $27,000. ORG Partners LLC increased its holdings in 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 purchasing an additional 1,112 shares during the period. Cypress Capital Management LLC WY purchased a new stake in UiPath during the 4th quarter worth about $29,000. Finally, GAMMA Investing LLC purchased a new stake in UiPath during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Trading Up 1.3 %

NYSE:PATH traded up $0.16 during mid-day trading on Friday, reaching $12.36. 7,086,519 shares of the stock were exchanged, compared to its average volume of 9,304,966. The company has a 50 day simple moving average of $13.30 and a 200-day simple moving average of $19.09. UiPath Inc. has a 1 year low of $11.07 and a 1 year high of $27.87.

UiPath (NYSE:PATH) last released its quarterly earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The firm had revenue of $335.11 million for the quarter, compared to the consensus estimate of $332.84 million. On average, research analysts anticipate that UiPath Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the transaction, the chief financial officer now directly owns 946,848 shares in the company, valued at approximately $18,738,121.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 22.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of UiPath in a report on Monday, April 1st. William Blair downgraded UiPath from an “outperform” rating to a “market perform” rating in a report on Thursday, May 30th. Mizuho dropped their price objective on UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Scotiabank dropped their price objective on UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 29th. Finally, Barclays dropped their price objective on UiPath from $25.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Sixteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.06.

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.