Stanley Laman Group Ltd. Purchases 388,971 Shares of UiPath Inc. (NYSE:PATH)

Stanley Laman Group Ltd. grew its position in UiPath Inc. (NYSE:PATH) by 111.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 736,960 shares of the company’s stock after purchasing an additional 388,971 shares during the quarter. UiPath makes up about 1.2% of Stanley Laman Group Ltd.’s portfolio, making the stock its 12th largest position. Stanley Laman Group Ltd.’s holdings in UiPath were worth $7,591,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. CIBC Asset Management Inc increased its holdings in UiPath by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after purchasing an additional 736 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after buying an additional 759 shares during the period. Tidal Investments LLC increased its stake in shares of UiPath by 3.7% in the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock valued at $286,000 after acquiring an additional 797 shares in the last quarter. True Wealth Design LLC lifted its position in shares of UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after acquiring an additional 801 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in shares of UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after acquiring an additional 804 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 98,795 shares of UiPath stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the sale, the chief financial officer now directly owns 987,322 shares in the company, valued at approximately $11,857,737.22. This trade represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Hitesh Ramani sold 12,500 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total value of $127,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 314,891 shares in the company, valued at approximately $3,208,739.29. This represents a 3.82% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.19% of the company’s stock.

UiPath Stock Down 2.4%

Shares of NYSE:PATH opened at $12.66 on Friday. The business’s 50 day moving average is $11.98 and its 200 day moving average is $12.68. UiPath Inc. has a 12-month low of $9.38 and a 12-month high of $15.93. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of -79.13 and a beta of 1.06.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. UiPath had a negative net margin of 6.49% and a negative return on equity of 4.14%. The firm had revenue of $356.62 million for the quarter, compared to the consensus estimate of $332.17 million. During the same period in the previous year, the firm earned $0.13 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts expect that UiPath Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group set a $16.00 price target on shares of UiPath and gave the company a “buy” rating in a research note on Monday, June 2nd. UBS Group reduced their target price on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, March 13th. Truist Financial upped their price target on UiPath from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, May 30th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Friday, May 30th. Finally, Royal Bank of Canada boosted their price objective on UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.83.

UiPath Company 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.