abrdn plc grew its stake in shares of UiPath Inc. (NASDAQ:PATH – Get Rating) by 53.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,197 shares of the healthcare company's stock after purchasing an additional 9,857 shares during the quarter. abrdn plc's holdings in UiPath were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PATH. ARK Investment Management LLC raised its holdings in UiPath by 24.9% during the first quarter. ARK Investment Management LLC now owns 33,600,948 shares of the healthcare company's stock worth $725,444,000 after purchasing an additional 6,698,008 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in UiPath by 24.8% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,615,356 shares of the healthcare company's stock worth $759,750,000 after purchasing an additional 3,500,987 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in UiPath by 72.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,437,445 shares of the healthcare company's stock worth $277,647,000 after purchasing an additional 2,697,742 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in UiPath by 17.2% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 16,513,378 shares of the healthcare company's stock worth $718,662,000 after purchasing an additional 2,419,307 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in UiPath by 4,924.3% during the fourth quarter. Lazard Asset Management LLC now owns 1,051,640 shares of the healthcare company's stock worth $45,357,000 after purchasing an additional 1,030,709 shares in the last quarter. Institutional investors and hedge funds own 52.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PATH. Barclays cut their target price on shares of UiPath from $36.00 to $25.00 in a report on Friday, May 20th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $25.00 target price on shares of UiPath in a report on Thursday, July 7th. Evercore ISI cut their target price on shares of UiPath from $28.00 to $23.00 in a report on Thursday, June 2nd. Royal Bank of Canada cut their target price on shares of UiPath from $32.00 to $27.00 in a report on Tuesday, May 31st. Finally, KeyCorp cut their target price on shares of UiPath from $34.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, April 25th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $36.06.

UiPath Stock Performance

UiPath (NASDAQ:PATH – Get Rating) last issued its earnings results on Wednesday, June 1st. The healthcare company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The company had revenue of $245.07 million for the quarter, compared to analysts' expectations of $225.37 million. UiPath had a negative return on equity of 18.47% and a negative net margin of 42.95%. UiPath's revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.81) earnings per share. On average, sell-side analysts forecast that UiPath Inc. will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kimberly Hammonds sold 2,521 shares of UiPath stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $18.70, for a total transaction of $47,142.70. Following the completion of the transaction, the director now owns 100,662 shares of the company's stock, valued at approximately $1,882,379.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.

Further Reading

• Get a free copy of the StockNews.com research report on UiPath (PATH)
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