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.
Get UiPath alerts: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
NYSE PATH opened at $14.03 on Friday. The stock's 50 day moving average is $18.11 and its 200 day moving average is $20.03. UiPath Inc. has a twelve month low of $12.21 and a twelve month high of $59.57.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
(Get Rating)
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.
See Also
- Get a free copy of the StockNews.com research report on UiPath (PATH)
- 3 Banks Worth Considering For Q4
- Stock Market: 3 Islands Of Strength In A Sea Of Red
- MarketBeat: Week in Review 9/12 – 9/16
- No One Told These 3 Stocks It's a Down Week
- Is There a Cure for What is Ailing Teladoc Stock?
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. (NYSE:PATH – Get Rating).
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.