ARK Investment Management LLC lifted its stake in shares of UiPath Inc. (NYSE:PATH – Get Rating) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,595,245 shares of the healthcare company's stock after purchasing an additional 3,994,297 shares during the period. UiPath accounts for 3.8% of ARK Investment Management LLC's investment portfolio, making the stock its 8th biggest holding. ARK Investment Management LLC owned approximately 6.90% of UiPath worth $641,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its holdings in shares of UiPath by 48.6% in the second quarter. AdvisorNet Financial Inc now owns 3,120 shares of the healthcare company's stock worth $57,000 after purchasing an additional 1,020 shares during the period. Freestone Capital Holdings LLC grew its position in UiPath by 24.8% during the fourth quarter. Freestone Capital Holdings LLC now owns 5,307 shares of the healthcare company's stock worth $229,000 after buying an additional 1,054 shares in the last quarter. Prospera Financial Services Inc bought a new position in UiPath in the 1st quarter worth about $27,000. First Republic Investment Management Inc. raised its holdings in shares of UiPath by 1.6% in the 1st quarter. First Republic Investment Management Inc. now owns 91,074 shares of the healthcare company's stock valued at $1,966,000 after acquiring an additional 1,410 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of UiPath by 3.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company's stock valued at $885,000 after acquiring an additional 1,506 shares during the last quarter. 51.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of UiPath from $30.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, September 7th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $15.00 price target (down previously from $25.00) on shares of UiPath in a research note on Wednesday, September 7th. Canaccord Genuity Group lowered UiPath from a "buy" rating to a "hold" rating and reduced their price objective for the company from $25.00 to $15.00 in a research report on Wednesday, September 7th. BMO Capital Markets dropped their target price on UiPath from $21.00 to $15.00 in a research report on Wednesday, September 7th. Finally, Cowen reduced their price target on shares of UiPath from $27.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 7th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.97.

UiPath Stock Performance

UiPath (NYSE:PATH – Get Rating) last issued its quarterly earnings results on Tuesday, September 6th. The healthcare company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.09. UiPath had a negative net margin of 42.98% and a negative return on equity of 19.19%. The company had revenue of $242.22 million during the quarter, compared to analyst estimates of $230.68 million. During the same period last year, the business earned ($0.17) EPS. UiPath's quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts predict that UiPath Inc. will post -0.63 EPS for the current year.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 30,000 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $15.02, for a total transaction of $450,600.00. Following the sale, the chief financial officer now directly owns 1,347,266 shares of the company's stock, valued at approximately $20,235,935.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other UiPath news, CFO Ashim Gupta sold 30,000 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $15.02, for a total transaction of $450,600.00. Following the sale, the chief financial officer now directly owns 1,347,266 shares in the company, valued at approximately $20,235,935.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 22,800 shares of the business's stock in a transaction on Monday, August 15th. The stock was sold at an average price of $20.70, for a total value of $471,960.00. Following the completion of the transaction, the chief accounting officer now owns 426,799 shares of the company's stock, valued at approximately $8,834,739.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,321 shares of company stock valued at $3,177,103. Insiders own 31.88% of the company's stock.

UiPath Company Profile

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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. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.

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