SteelPeak Wealth LLC Grows Stock Position in UiPath Inc. (NYSE:PATH)

SteelPeak Wealth LLC increased its holdings in shares of UiPath Inc. (NYSE:PATH) by 46.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 22,592 shares of the healthcare company’s stock after purchasing an additional 7,149 shares during the quarter. SteelPeak Wealth LLC’s holdings in UiPath were worth $512,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in UiPath by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock worth $946,028,000 after buying an additional 334,085 shares during the period. Norges Bank purchased a new position in UiPath during the fourth quarter worth about $165,749,000. Mirae Asset Global Investments Co. Ltd. lifted its position in UiPath by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company’s stock worth $131,687,000 after buying an additional 119,782 shares during the period. Charles Schwab Investment Management Inc. lifted its position in UiPath by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,553,264 shares of the healthcare company’s stock worth $63,423,000 after buying an additional 108,013 shares during the period. Finally, Northern Trust Corp lifted its position in UiPath by 10.4% during the third quarter. Northern Trust Corp now owns 2,467,710 shares of the healthcare company’s stock worth $42,223,000 after buying an additional 233,362 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PATH. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of UiPath in a research report on Monday, April 1st. BMO Capital Markets cut their price objective on UiPath from $28.00 to $14.00 and set a “market perform” rating on the stock in a report on Monday, June 3rd. Macquarie downgraded UiPath from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $12.00 in a report on Monday, June 3rd. Scotiabank cut their price objective on UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 29th. Finally, Morgan Stanley cut their price objective on UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.06.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $21.66, for a total value of $866,400.00. Following the sale, the chief financial officer now owns 660,762 shares of the company’s stock, valued at approximately $14,312,104.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 22.37% of the stock is currently owned by company insiders.

UiPath Price Performance

NYSE:PATH remained flat at $12.68 during trading hours on Friday. The company’s stock had a trading volume of 13,027,077 shares, compared to its average volume of 14,350,568. The company’s 50 day moving average is $16.18 and its 200 day moving average is $20.75. UiPath Inc. has a 52 week low of $11.07 and a 52 week high of $27.87. The firm has a market cap of $7.26 billion, a PE ratio of -79.25 and a beta of 0.85.

UiPath (NYSE:PATH) last released its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The company had revenue of $335.11 million for the quarter, compared to the consensus estimate of $332.84 million. Research analysts predict that UiPath Inc. will post -0.2 earnings per share for the current year.

UiPath Company Profile

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.