abrdn plc Has $3.40 Million Stake in UiPath Inc. (NYSE:PATH)

abrdn plc lifted its stake in shares of UiPath Inc. (NYSE:PATH) by 58.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 137,004 shares of the healthcare company’s stock after acquiring an additional 50,336 shares during the period. abrdn plc’s holdings in UiPath were worth $3,403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. HighMark Wealth Management LLC acquired a new position in shares of UiPath during the fourth quarter valued at about $27,000. FNY Investment Advisers LLC acquired a new stake in UiPath in the fourth quarter valued at approximately $40,000. FSC Wealth Advisors LLC bought a new stake in shares of UiPath during the fourth quarter valued at approximately $43,000. Fifth Third Bancorp raised its position in shares of UiPath by 2,005.3% during the third quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock worth $34,000 after purchasing an additional 1,905 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of UiPath in the 4th quarter worth $50,000. 62.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley boosted their price target on shares of UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. BMO Capital Markets upped their target price on shares of UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday, March 14th. TD Cowen lifted their price target on UiPath from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. DA Davidson increased their price objective on UiPath from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of UiPath in a report on Wednesday, March 20th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.41.

Insider Activity

In related news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $22.47, for a total value of $359,520.00. Following the completion of the sale, the chief financial officer now owns 103,505 shares of the company’s stock, valued at approximately $2,325,757.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 72,000 shares of company stock valued at $1,591,360 in the last 90 days. Insiders own 31.03% of the company’s stock.

UiPath Stock Performance

Shares of PATH stock opened at $19.46 on Monday. UiPath Inc. has a 52 week low of $12.38 and a 52 week high of $27.87. The firm’s 50-day simple moving average is $22.19 and its two-hundred day simple moving average is $21.61. The firm has a market cap of $11.07 billion, a price-to-earnings ratio of -114.47 and a beta of 0.96.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. The company had revenue of $405.25 million for the quarter, compared to analysts’ expectations of $383.32 million. Analysts forecast that UiPath Inc. will post -0.04 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.