Redwood Wealth Management Group LLC Invests $43,000 in UiPath Inc. (NYSE:PATH)

Redwood Wealth Management Group LLC purchased a new position in UiPath Inc. (NYSE:PATH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,429 shares of the healthcare company’s stock, valued at approximately $43,000.

Several other institutional investors also recently added to or reduced their stakes in PATH. Norges Bank purchased a new stake in shares of UiPath in the fourth quarter valued at approximately $165,749,000. Vanguard Group Inc. grew its position in shares of UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after buying an additional 2,133,078 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of UiPath during the fourth quarter valued at $48,267,000. First Trust Advisors LP raised its holdings in shares of UiPath by 122.6% in the fourth quarter. First Trust Advisors LP now owns 1,132,984 shares of the healthcare company’s stock valued at $28,143,000 after acquiring an additional 624,003 shares in the last quarter. Finally, Trexquant Investment LP lifted its stake in UiPath by 303.7% in the fourth quarter. Trexquant Investment LP now owns 741,506 shares of the healthcare company’s stock worth $18,419,000 after acquiring an additional 557,828 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. BMO Capital Markets raised their target price on shares of UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. KeyCorp reissued a “sector weight” rating on shares of UiPath in a report on Thursday, May 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research report on Friday, September 6th. Bank of America boosted their price target on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, TD Cowen dropped their price objective on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.71.

UiPath Stock Up 4.1 %

UiPath stock opened at $12.51 on Monday. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of -78.19 and a beta of 0.87. The business’s 50-day moving average price is $12.12 and its 200 day moving average price is $16.22.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. During the same quarter last year, the company earned ($0.09) EPS. The business’s revenue was up 10.0% on a year-over-year basis. Equities analysts expect that UiPath Inc. will post -0.23 EPS for the current year.

About UiPath

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