abrdn plc Grows Position in UiPath Inc. (NASDAQ:PATH)

abrdn plc boosted its stake in shares of UiPath Inc. (NASDAQ:PATHGet Rating) by 53.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,197 shares of the healthcare company’s stock after purchasing an additional 9,857 shares during the period. abrdn plc’s holdings in UiPath were worth $610,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. ARK Investment Management LLC boosted its holdings in shares of UiPath by 24.9% in the 1st quarter. ARK Investment Management LLC now owns 33,600,948 shares of the healthcare company’s stock valued at $725,444,000 after acquiring an additional 6,698,008 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of UiPath by 24.8% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,615,356 shares of the healthcare company’s stock valued at $759,750,000 after acquiring an additional 3,500,987 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in shares of UiPath by 17.2% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 16,513,378 shares of the healthcare company’s stock valued at $718,662,000 after acquiring an additional 2,419,307 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of UiPath by 72.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,437,445 shares of the healthcare company’s stock valued at $277,647,000 after acquiring an additional 2,697,742 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of UiPath by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 2,164,082 shares of the healthcare company’s stock valued at $93,336,000 after acquiring an additional 90,485 shares during the last quarter. 52.19% of the stock is owned by hedge funds and other institutional investors.

UiPath Stock Up 2.6 %

Shares of NASDAQ PATH opened at $19.24 on Wednesday. The firm has a 50-day simple moving average of $19.06 and a 200-day simple moving average of $24.19. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of -24.99 and a beta of 0.09. UiPath Inc. has a 52 week low of $13.66 and a 52 week high of $66.07.

UiPath (NASDAQ:PATHGet Rating) last issued its earnings results on Wednesday, June 1st. The healthcare company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The business had revenue of $245.07 million during the quarter, compared to analyst estimates of $225.37 million. UiPath had a negative net margin of 42.95% and a negative return on equity of 18.47%. UiPath’s quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.81) earnings per share. As a group, equities research analysts expect that UiPath Inc. will post -0.59 EPS for the current year.

Insider Activity at UiPath

In related news, Director Kimberly Hammonds sold 2,521 shares of the company’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $18.70, for a total value of $47,142.70. Following the completion of the sale, the director now owns 100,662 shares of the company’s stock, valued at $1,882,379.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets dropped their price objective on shares of UiPath from $29.00 to $21.00 in a report on Thursday, June 2nd. KeyCorp lowered their price target 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. Credit Suisse Group lowered their price target on shares of UiPath from $57.50 to $45.00 in a report on Thursday, June 2nd. Truist Financial lowered their price target on shares of UiPath from $55.00 to $45.00 in a report on Thursday, June 2nd. Finally, Evercore ISI lowered their price target on shares of UiPath from $28.00 to $23.00 in a report on Thursday, June 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, UiPath presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.06.

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.

Further Reading

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Institutional Ownership by Quarter for UiPath (NASDAQ:PATH)

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