Lumbard Kellner Loads Up UiPath With 224,000 Shares Bought
Key Points
Acquired 224,337 shares; estimated transaction value of $3.68 million based on quarterly average price.
Quarter-end position value rose by $3.68 million, reflecting both the purchase and stock price movement.
Transaction represents a 1.29% increase in 13F reportable assets under management (AUM).
Quarter-end stake: 224,337 shares valued at $3.68 million.
New position places UiPath outside the fund’s top five holdings.
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Lumbard & Kellner, LLC initiated a new position in UiPath (NYSE:PATH), according to a February 3, 2026, SEC filing.
What happened
According to a SEC filing dated February 3, 2026, Lumbard & Kellner, LLC established a new position in UiPath, acquiring 224,337 shares during the fiscal fourth quarter ended December 31, 2025. The estimated value of the purchase was $3.68 million, calculated using the quarterly average price. The quarter-end position was valued at $3.68 million, reflecting the combined effect of the share acquisition and stock price changes.
What else to know
- This new position represents 1.29% of the fund’s $285.53 million in reportable U.S. equity assets as of December 31, 2025
- Top holdings after the filing:
- NASDAQ:GOOGL: $15.15 million (5.3% of AUM)
- NYSEMKT:BIL: $14.06 million (4.9% of AUM)
- NYSE:GS: $10.47 million (3.7% of AUM)
- NYSE:HBM: $10.31 million (3.6% of AUM)
- NYSEMKT:SPMD: $9.86 million (3.5% of AUM)
- As of February 2, 2026, UiPath shares were priced at $12.54, down 11.8% over the past year, underperforming the S&P 500 by 27.3 percentage points
Company overview
| Metric | Value |
|---|---|
| Price (as of market close February 2, 2026) | $12.54 |
| Market capitalization | $6.41 billion |
| Revenue (TTM) | $1.55 billion |
| Net income (TTM) | $229.7 million |
Company snapshot
- Provides an end-to-end automation platform with robotic process automation (RPA), AI-powered process discovery, low-code development tools, and centralized management solutions
- Generates revenue primarily through software licensing, maintenance, support, and professional services including training and implementation
- Serves enterprise customers across sectors such as banking, healthcare, financial services, and government, with a global presence in the United States, Romania, and Japan
UiPath is a leading provider of enterprise automation software, enabling organizations to automate repetitive business processes at scale. The company leverages artificial intelligence and low-code tools to help clients increase operational efficiency and ensure compliance. UiPath's platform-centric strategy and broad customer base provide a competitive edge in the rapidly expanding automation market.
What this transaction means for investors
UiPath has traded in a relatively narrow range since losing more than 85% of its value in 2021 and 2022. For this reason, the purchase of the stock is intriguing.
Indeed, its valuation has fallen significantly. It sold at a price-to-sales (P/S) ratio that briefly exceeded 60 at the time of its 2021 IPO. Since then, it has steadily slid, now trading at just 4.4 times sales.
Moreover, one thing has changed since the 2021 bull market—UiPath has turned profitable. Amid the massive decline in the stock, its P/E ratio is 30, close to the S&P 500 average.
Additionally, its forward P/E ratio now stands at 16, meaning the robotics stock has become a value stock. Investors should also note that its largest holding is Alphabet, which, as recently as last April, traded at a P/E ratio below 20.
Although we do not know why Lumbard & Kellner purchased UiPath, they may perceive it as a value play amid the low forward earnings multiple. Considering the company’s significant profit growth, that could eventually turn out to be a correct assessment.
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Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Goldman Sachs Group, and UiPath. The Motley Fool has a disclosure policy.
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