Smith Group Asset Management LLC Purchases New Position in UiPath Inc. (NYSE:PATH)

Smith Group Asset Management LLC purchased a new stake in UiPath Inc. (NYSE:PATH) during the first quarter, Holdings Channel reports. The institutional investor purchased 9,020 shares of the healthcare company’s stock, valued at approximately $204,000.

Other hedge funds have also modified their holdings of the company. Royal London Asset Management Ltd. raised its position in shares of UiPath by 5.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 139,544 shares of the healthcare company’s stock valued at $2,388,000 after acquiring an additional 7,742 shares during the period. Swiss National Bank raised its position in shares of UiPath by 4.9% in the 4th quarter. Swiss National Bank now owns 1,211,500 shares of the healthcare company’s stock valued at $30,094,000 after acquiring an additional 56,600 shares during the period. Vestmark Advisory Solutions Inc. acquired a new stake in shares of UiPath in the 4th quarter valued at approximately $15,543,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of UiPath in the 3rd quarter valued at approximately $203,000. Finally, Invesco Ltd. raised its position in shares of UiPath by 2.8% in the 3rd quarter. Invesco Ltd. now owns 399,181 shares of the healthcare company’s stock valued at $6,830,000 after acquiring an additional 10,863 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Stock Up 2.2 %

Shares of NYSE:PATH traded up $0.28 during midday trading on Friday, hitting $13.24. The stock had a trading volume of 7,620,131 shares, compared to its average volume of 10,134,202. UiPath Inc. has a 12 month low of $11.07 and a 12 month high of $27.87. The business’s 50-day simple moving average is $15.54 and its 200-day simple moving average is $20.38. The company has a market cap of $7.58 billion, a P/E ratio of -82.81 and a beta of 0.86.

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

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction on Monday, May 6th. The shares were sold at an average price of $19.79, for a total transaction of $791,600.00. Following the completion of the transaction, the chief financial officer now directly owns 946,848 shares of the company’s stock, valued at $18,738,121.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 22.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on PATH shares. JPMorgan Chase & Co. dropped their target price on shares of UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of UiPath in a report on Monday, April 1st. Macquarie downgraded shares of UiPath from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $12.00 in a report on Monday, June 3rd. KeyCorp restated a “sector weight” rating on shares of UiPath in a report on Thursday, May 30th. Finally, Bank of America restated a “neutral” rating and set a $16.00 target price (down from $30.00) on shares of UiPath in a report on Thursday, May 30th. 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, the company presently has a consensus rating of “Hold” and a consensus price target of $18.06.

UiPath 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.