Mitsubishi UFJ Asset Management Co. Ltd. Buys 32,013 Shares of UiPath, Inc. (NYSE:PATH)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in UiPath, Inc. (NYSE:PATH - Free Report) by 62.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,871 shares of the company's stock after purchasing an additional 32,013 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in UiPath were worth $854,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in UiPath by 479.3% during the first quarter. Federated Hermes Inc. now owns 5,720,096 shares of the company's stock worth $58,917,000 after buying an additional 4,732,712 shares during the last quarter. AQR Capital Management LLC raised its holdings in UiPath by 45.3% during the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after buying an additional 2,072,089 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in UiPath by 35.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock worth $69,385,000 after buying an additional 1,432,569 shares during the last quarter. Vanguard Group Inc. raised its holdings in UiPath by 3.0% during the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company's stock worth $495,029,000 after buying an additional 1,396,972 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in UiPath by 111.8% during the fourth quarter. Marshall Wace LLP now owns 2,456,102 shares of the company's stock worth $31,217,000 after buying an additional 1,296,382 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PATH has been the subject of several analyst reports. Evercore ISI increased their target price on shares of UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a report on Friday, May 30th. Truist Financial increased their target price on shares of UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a report on Friday, May 30th. Zacks Research upgraded shares of UiPath to a "hold" rating in a report on Friday, August 8th. Barclays reiterated an "equal weight" rating on shares of UiPath in a report on Friday, May 30th. Finally, Morgan Stanley increased their target price on shares of UiPath from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, UiPath has an average rating of "Hold" and an average target price of $13.83.

Insiders Place Their Bets

In related news, CEO Daniel Dines sold 9,988 shares of UiPath stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $12.00, for a total value of $119,856.00. Following the sale, the chief executive officer owned 4,598,388 shares in the company, valued at $55,180,656. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 831,310 shares of company stock valued at $10,428,922 in the last quarter. Insiders own 23.19% of the company's stock.

UiPath Trading Up 2.3%

Shares of PATH stock traded up $0.25 during trading hours on Friday, reaching $10.98. The stock had a trading volume of 12,498,827 shares, compared to its average volume of 14,116,685. The stock's fifty day simple moving average is $12.22 and its 200 day simple moving average is $12.19. The firm has a market capitalization of $5.87 billion, a PE ratio of -91.49, a PEG ratio of 14.06 and a beta of 1.03. UiPath, Inc. has a 12 month low of $9.38 and a 12 month high of $15.93.

UiPath (NYSE:PATH - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $356.62 million for the quarter, compared to the consensus estimate of $332.17 million. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. UiPath's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.13 earnings per share. As a group, equities research analysts anticipate that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

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.