Caitong International Asset Management Co. Ltd Increases Stock Position in UiPath, Inc. $PATH

Key Points

• Caitong International Asset Management increased its UiPath stake by 39,226.2% in the second quarter, purchasing 91,397 additional shares for a total holding of 91,630 shares worth approximately $996,000.
• Institutional investors own 62.5% of UiPath, while analysts maintain a largely cautious outlook: 14 rate the stock Hold, two Buy, and one Sell. The consensus target price is $13.87.
• UiPath reported quarterly revenue of $418.38 million, up 17.3% year over year, and earnings of $0.15 per share, matching expectations. Shares opened at $16.03, with the stock trading between $9.20 and $19.84 over the past year.

Caitong International Asset Management Co. Ltd raised its stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 39,226.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,630 shares of the company's stock after purchasing an additional 91,397 shares during the period. Caitong International Asset Management Co. Ltd's holdings in UiPath were worth $996,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PATH. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of UiPath by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 37,871 shares of the company's stock worth $621,000 after buying an additional 720 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in UiPath by 7.6% during the fourth quarter. Meeder Advisory Services Inc. now owns 12,132 shares of the company's stock valued at $199,000 after buying an additional 861 shares during the last quarter. Pasadena Private Wealth LLC grew its holdings in UiPath by 9.0% during the 1st quarter. Pasadena Private Wealth LLC now owns 12,750 shares of the company's stock valued at $142,000 after buying an additional 1,050 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in UiPath by 36.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,968 shares of the company's stock valued at $81,000 after buying an additional 1,329 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of UiPath by 5.6% during the 4th quarter. Corient Private Wealth LLC now owns 27,283 shares of the company's stock worth $447,000 after acquiring an additional 1,455 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analysts Set New Price Targets

PATH has been the subject of a number of research reports. Bank of America increased their target price on UiPath from $12.00 to $13.00 and gave the company an "underperform" rating in a research report on Friday, May 29th. Wall Street Zen downgraded shares of UiPath from a "buy" rating to a "hold" rating in a research note on Saturday, May 30th. BMO Capital Markets lowered their price objective on shares of UiPath from $14.00 to $13.00 and set a "market perform" rating for the company in a research report on Monday, June 1st. UBS Group lowered their price objective on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, June 29th. Finally, DA Davidson dropped their price objective on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $13.87.

UiPath Trading Down 3.9%

Shares of NYSE:PATH opened at $16.03 on Friday. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.92 and a beta of 0.96. The firm's 50-day moving average is $11.97 and its 200 day moving average is $11.50. UiPath, Inc. has a 12 month low of $9.20 and a 12 month high of $19.84.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The company had revenue of $418.38 million for the quarter, compared to the consensus estimate of $397.54 million. During the same quarter last year, the firm posted $0.11 EPS. The firm's revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts forecast that UiPath, Inc. will post 0.4 EPS for the current fiscal 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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.

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