Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in UiPath, Inc. $PATH

Key Points

• Mitsubishi UFJ Asset Management nearly doubled its UiPath stake in the second quarter, adding 131,792 shares to own 265,611 shares valued at approximately $2.89 million. Institutional investors and hedge funds collectively own 62.5% of the company.
• UiPath shares opened at $16.34, up 2.6%, with revenue rising 17.3% year over year to $418.38 million in its latest quarter. Analysts maintain a consensus “Hold” rating with an average price target of $13.87.
• CEO Daniel Dines sold 1.4 million shares for approximately $22.5 million, reducing his position by 5.03%, though insiders still own 22.44% of UiPath.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 98.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,611 shares of the company's stock after buying an additional 131,792 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.05% of UiPath worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the stock. HighMark Wealth Management LLC acquired a new position in shares of UiPath in the 4th quarter valued at $25,000. Trifecta Capital Advisors LLC purchased a new position in UiPath during the second quarter valued at approximately $27,000. TD Waterhouse Canada Inc. increased its holdings in shares of UiPath by 1,270.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company's stock valued at $29,000 after purchasing an additional 1,652 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in UiPath in the fourth quarter valued at $37,000. Finally, AdvisorNet Financial Inc increased its stake in shares of UiPath by 750.0% in the 1st quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company's stock valued at $38,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

UiPath Stock Up 2.6%

Shares of UiPath stock opened at $16.34 on Friday. The company has a 50 day moving average of $12.49 and a 200 day moving average of $11.57. The company has a market capitalization of $8.47 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.91 and a beta of 0.96. UiPath, Inc. has a 52-week low of $9.20 and a 52-week high of $19.84.

UiPath (NYSE:PATH - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The firm had revenue of $418.38 million for the quarter, compared to analyst estimates of $397.54 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. UiPath's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, research analysts anticipate that UiPath, Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of UiPath in a report on Friday, July 10th. Royal Bank Of Canada lifted their price objective on UiPath from $12.00 to $15.00 and gave the stock a "sector perform" rating in a research report on Friday, August 14th. DA Davidson decreased their target price on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, May 29th. Morgan Stanley decreased their price target on UiPath from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, May 29th. Finally, New Street Research set a $13.00 price objective on shares of UiPath in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, UiPath presently has a consensus rating of "Hold" and a consensus target price of $13.87.

Insider Activity

In related news, CEO Daniel Dines sold 1,402,347 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $16.07, for a total value of $22,535,716.29. Following the transaction, the chief executive officer directly owned 26,491,238 shares of the company's stock, valued at $425,714,194.66. This trade represents a 5.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 22.44% of the company's stock.

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. 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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