11,332,361 Shares in UiPath Inc. (NASDAQ:PATH) Acquired by Coatue Management LLC

Coatue Management LLC purchased a new position in shares of UiPath Inc. (NASDAQ:PATH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,332,361 shares of the healthcare company’s stock, valued at approximately $769,807,000. UiPath comprises approximately 3.0% of Coatue Management LLC’s portfolio, making the stock its 11th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. PEAK6 Investments LLC bought a new stake in UiPath during the 2nd quarter worth approximately $518,000. Laurion Capital Management LP bought a new position in UiPath in the 2nd quarter valued at $1,019,000. Liberty Mutual Group Asset Management Inc. bought a new position in UiPath in the 2nd quarter valued at $1,730,000. Gryphon Financial Partners LLC bought a new position in UiPath in the 2nd quarter valued at $603,000. Finally, Wit LLC bought a new position in UiPath in the 2nd quarter valued at $989,000. Institutional investors and hedge funds own 31.14% of the company’s stock.

Shares of NASDAQ PATH traded up $1.03 during mid-day trading on Thursday, hitting $51.02. The company had a trading volume of 67,288 shares, compared to its average volume of 4,153,465. The company has a 50-day moving average price of $57.51. UiPath Inc. has a one year low of $47.20 and a one year high of $90.00.

UiPath (NASDAQ:PATH) last announced its quarterly earnings data on Monday, September 6th. The healthcare company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The company had revenue of $195.52 million during the quarter, compared to the consensus estimate of $186.72 million. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, sell-side analysts anticipate that UiPath Inc. will post -0.82 earnings per share for the current fiscal year.

In related news, CFO Ashim Gupta sold 26,404 shares of UiPath stock in a transaction dated Tuesday, August 24th. The stock was sold at an average price of $62.00, for a total transaction of $1,637,048.00. Following the completion of the transaction, the chief financial officer now owns 638,091 shares in the company, valued at $39,561,642. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brad Brubaker sold 6,700 shares of UiPath stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $62.13, for a total value of $416,271.00. Following the transaction, the insider now owns 6,700 shares of the company’s stock, valued at approximately $416,271. The disclosure for this sale can be found here. Insiders sold a total of 460,427 shares of company stock valued at $27,289,358 in the last 90 days. 28.60% of the stock is owned by corporate insiders.

A number of research analysts have commented on the company. Oppenheimer reiterated a “hold” rating on shares of UiPath in a research report on Wednesday, September 8th. Canaccord Genuity raised UiPath to a “hold” rating and cut their price target for the company from $75.00 to $65.00 in a research note on Wednesday, September 8th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of UiPath in a research note on Wednesday, October 6th. Wells Fargo & Company cut their price target on UiPath from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 8th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on UiPath from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, UiPath presently has a consensus rating of “Hold” and a consensus price target of $70.81.

UiPath 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, 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.

Featured Story: The components of the Stochastic Momentum Index

Want to see what other hedge funds are holding PATH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UiPath Inc. (NASDAQ:PATH).

Institutional Ownership by Quarter for UiPath (NASDAQ:PATH)

Receive News & Ratings for UiPath Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UiPath and related companies with MarketBeat.com's FREE daily email newsletter.