UiPath, Inc. $PATH Holdings Increased by Bank of America Corp DE

Key Points

• Bank of America increased its UiPath stake by 13.2% in the first quarter, acquiring 1.17 million additional shares and bringing its holdings to 10.05 million shares, or 1.92% of the company.
• UiPath reported quarterly revenue of $418.4 million, up 17.3% year over year, exceeding analyst estimates of $397.5 million; earnings per share of $0.15 matched expectations.
• Despite the stock’s reported 7.4% rise, analyst sentiment remains cautious: UiPath has an overall “Hold” rating and an average price target of $13.80, below its cited $15.04 share price.

Bank of America Corp DE lifted its stake in UiPath, Inc. (NYSE:PATH - Free Report) by 13.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,046,699 shares of the company's stock after acquiring an additional 1,170,285 shares during the period. Bank of America Corp DE owned 1.92% of UiPath worth $111,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. HighMark Wealth Management LLC acquired a new position in shares of UiPath in the fourth quarter worth about $25,000. TD Waterhouse Canada Inc. raised its position in UiPath by 1,270.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company's stock valued at $29,000 after acquiring an additional 1,652 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in UiPath in the fourth quarter valued at approximately $37,000. REAP Financial Group LLC acquired a new position in UiPath during the fourth quarter worth $44,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of UiPath by 750.0% during the 1st quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company's stock worth $38,000 after buying an additional 3,000 shares during the period. 62.50% of the stock is currently owned by institutional investors.

UiPath Stock Up 7.4%

NYSE:PATH opened at $15.04 on Friday. The firm has a market cap of $7.79 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.68 and a beta of 0.96. UiPath, Inc. has a 12 month low of $9.20 and a 12 month high of $19.84. The company's 50-day moving average price is $11.58 and its two-hundred day moving average price is $11.46.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.15 earnings per share 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 during the quarter, compared to analyst estimates of $397.54 million. During the same quarter last year, the business posted $0.11 earnings per share. The company's revenue was up 17.3% on a year-over-year basis. On average, research analysts expect that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PATH has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of UiPath in a research report on Friday, July 10th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of UiPath in a research note on Friday, May 29th. UBS Group dropped their price objective on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, June 29th. Morgan Stanley cut their price objective on shares of UiPath from $17.00 to $15.00 and set an "equal weight" rating for the company in a research report on Friday, May 29th. Finally, BMO Capital Markets decreased their target price on UiPath from $14.00 to $13.00 and set a "market perform" rating on the stock in a research report on Monday, June 1st. Two investment 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.com, the stock currently has an average rating of "Hold" and an average target price of $13.80.

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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