LifePro Asset Management purchased a new stake in UiPath Inc. (NYSE:PATH – Get Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 235,646 shares of the healthcare company's stock, valued at approximately $4,286,000. UiPath accounts for about 2.2% of LifePro Asset Management's holdings, making the stock its 22nd biggest position.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ARK Investment Management LLC increased its holdings in UiPath by 11.9% in the 2nd quarter. ARK Investment Management LLC now owns 37,595,245 shares of the healthcare company's stock valued at $641,751,000 after buying an additional 3,994,297 shares during the period. Vanguard Group Inc. grew its holdings in shares of UiPath by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 24,800,243 shares of the healthcare company's stock worth $535,437,000 after purchasing an additional 2,557,428 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of UiPath by 27.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 21,026,818 shares of the healthcare company's stock worth $457,123,000 after purchasing an additional 4,513,440 shares during the last quarter. Altimeter Capital Management LP grew its holdings in shares of UiPath by 175.4% in the 1st quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company's stock worth $71,579,000 after purchasing an additional 5,270,194 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of UiPath by 12.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,269,496 shares of the healthcare company's stock worth $156,948,000 after purchasing an additional 832,051 shares during the last quarter. Institutional investors own 51.35% of the company's stock.
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Insider Activity at UiPath
In related news, CFO Ashim Gupta sold 100,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $20.70, for a total value of $2,070,000.00. Following the sale, the chief financial officer now directly owns 1,387,266 shares in the company, valued at approximately $28,716,406.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Ashim Gupta sold 100,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $20.70, for a total value of $2,070,000.00. Following the sale, the chief financial officer now directly owns 1,387,266 shares in the company, valued at approximately $28,716,406.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Hitesh Ramani sold 22,800 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 426,799 shares of the company's stock, valued at $8,834,739.30. The disclosure for this sale can be found here. Insiders have sold 162,800 shares of company stock worth $3,129,960 in the last ninety days. Company insiders own 31.88% of the company's stock.
UiPath Stock Performance
UiPath stock traded down $0.17 during trading hours on Friday, reaching $12.87. 7,840,749 shares of the company's stock traded hands, compared to its average volume of 9,510,777. UiPath Inc. has a fifty-two week low of $12.21 and a fifty-two week high of $59.57. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of -16.09 and a beta of 0.11. The firm's 50 day moving average is $17.55 and its 200-day moving average is $19.57.
UiPath (NYSE:PATH – Get Rating) last announced its quarterly earnings results on Tuesday, September 6th. The healthcare company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.09. The business had revenue of $242.22 million for the quarter, compared to the consensus estimate of $230.68 million. UiPath had a negative net margin of 42.98% and a negative return on equity of 19.19%. UiPath's revenue for the quarter was up 23.9% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. Analysts predict that UiPath Inc. will post -0.63 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently weighed in on PATH. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $15.00 target price (down previously from $25.00) on shares of UiPath in a report on Wednesday, September 7th. Wells Fargo & Company lowered their target price on shares of UiPath from $30.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, September 7th. Oppenheimer lowered their target price on shares of UiPath from $35.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, June 2nd. Canaccord Genuity Group lowered shares of UiPath from a "buy" rating to a "hold" rating and lowered their target price for the stock from $25.00 to $15.00 in a report on Wednesday, September 7th. Finally, Needham & Company LLC reduced their price target on shares of UiPath from $40.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, September 7th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.97.
UiPath 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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