Wedbush Securities Inc. Takes $245,000 Position in UiPath Inc. (NASDAQ:PATH)

Wedbush Securities Inc. purchased a new position in UiPath Inc. (NASDAQ:PATH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,663 shares of the healthcare company’s stock, valued at approximately $245,000.

A number of other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD acquired a new position in UiPath in the second quarter worth about $1,521,290,000. ARK Investment Management LLC acquired a new position in UiPath in the second quarter worth about $806,729,000. Coatue Management LLC acquired a new position in UiPath in the second quarter worth about $769,807,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in UiPath in the second quarter worth about $409,526,000. Finally, Nikko Asset Management Americas Inc. acquired a new position in UiPath in the second quarter worth about $411,517,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

NASDAQ PATH opened at $49.16 on Thursday. UiPath Inc. has a twelve month low of $46.66 and a twelve month high of $90.00. The firm’s 50 day moving average price is $52.58 and its two-hundred day moving average price is $61.80.

UiPath (NASDAQ:PATH) last posted its quarterly earnings data on Monday, September 6th. The healthcare company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.06. The firm had revenue of $195.52 million for the quarter, compared to analysts’ expectations of $186.72 million. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. As a group, equities analysts expect that UiPath Inc. will post -0.82 earnings per share for the current year.

In other UiPath news, insider Brad Brubaker sold 13,400 shares of UiPath stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $56.68, for a total transaction of $759,512.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Dines sold 20,964 shares of UiPath stock in a transaction on Friday, November 12th. The shares were sold at an average price of $56.39, for a total transaction of $1,182,159.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 401,357 shares of company stock worth $22,592,750. Corporate insiders own 28.60% of the company’s stock.

A number of equities analysts have issued reports on PATH shares. Cowen cut their target price on shares of UiPath from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, October 8th. They noted that the move was a valuation call. Royal Bank of Canada cut their target price on shares of UiPath from $74.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, October 7th. Credit Suisse Group began coverage on shares of UiPath in a report on Tuesday, November 16th. They issued an “outperform” rating and a $75.00 target price on the stock. Canaccord Genuity raised UiPath to a “hold” rating and cut their price target for the company from $75.00 to $65.00 in a report on Wednesday, September 8th. Finally, BMO Capital Markets cut their price target on UiPath from $85.00 to $70.00 and set a “market perform” rating on the stock in a report on Wednesday, September 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $71.00.

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, and Japan. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.

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Institutional Ownership by Quarter for UiPath (NASDAQ:PATH)

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