Jacobs Levy Equity Management Inc. Grows Stock Position in UiPath Inc. (NYSE:PATH)

Jacobs Levy Equity Management Inc. increased its holdings in UiPath Inc. (NYSE:PATH) by 554.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,026,502 shares of the company’s stock after buying an additional 3,411,562 shares during the period. Jacobs Levy Equity Management Inc. owned 0.73% of UiPath worth $51,539,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PATH. Future Financial Wealth Managment LLC bought a new position in UiPath in the third quarter valued at $26,000. JTC Employer Solutions Trustee Ltd purchased a new stake in UiPath in the third quarter worth $26,000. Hantz Financial Services Inc. purchased a new stake in shares of UiPath in the 2nd quarter worth about $28,000. Redwood Wealth Management Group LLC bought a new position in shares of UiPath during the second quarter valued at approximately $43,000. Finally, Allspring Global Investments Holdings LLC raised its stake in UiPath by 124.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after buying an additional 2,274 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Stock Performance

NYSE:PATH opened at $14.38 on Wednesday. The stock’s fifty day moving average is $12.93 and its 200 day moving average is $12.87. The firm has a market capitalization of $7.91 billion, a PE ratio of -71.90 and a beta of 0.94. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87.

UiPath (NYSE:PATH) last released its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. During the same quarter last year, the business earned ($0.09) EPS. The business’s revenue was up 10.0% on a year-over-year basis. Equities analysts forecast that UiPath Inc. will post -0.23 EPS for the current year.

Analysts Set New Price Targets

PATH has been the topic of several analyst reports. 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. TD Cowen decreased their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. DA Davidson upped their target price on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. dropped their price target on UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, UiPath currently has a consensus rating of “Hold” and an average price target of $17.47.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.