Horrell Capital Management Inc. Grows Stock Holdings in UiPath Inc. (NYSE:PATH)

Horrell Capital Management Inc. raised its position in shares of UiPath Inc. (NYSE:PATH) by 20.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 290,000 shares of the healthcare company’s stock after buying an additional 50,000 shares during the quarter. Horrell Capital Management Inc. owned about 0.05% of UiPath worth $3,712,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PATH. Future Financial Wealth Managment LLC purchased a new stake in shares of UiPath during the third quarter valued at about $26,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of UiPath during the third quarter valued at about $26,000. ORG Partners LLC lifted its position in shares of UiPath by 875.6% during the first quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock valued at $27,000 after buying an additional 1,112 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of UiPath in the 2nd quarter valued at approximately $28,000. Finally, Redwood Wealth Management Group LLC purchased a new position in shares of UiPath in the 2nd quarter valued at approximately $43,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Stock Up 1.6 %

Shares of NYSE PATH traded up $0.20 during midday trading on Tuesday, reaching $12.68. 1,081,571 shares of the stock were exchanged, compared to its average volume of 9,631,373. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of -62.37 and a beta of 0.88. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87. The firm has a 50-day simple moving average of $12.51 and a two-hundred day simple moving average of $13.98.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) EPS. Research analysts expect that UiPath Inc. will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on PATH. Evercore ISI increased their price objective on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Bank of America increased their price objective on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of UiPath in a research report on Friday, September 6th. JPMorgan Chase & Co. decreased their price objective on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reaffirmed 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.47.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of UiPath 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 sale, the chief financial officer now owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.37% of the stock is owned by corporate insiders.

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.