UiPath, Inc. $PATH Shares Bought by BlackRock Inc.

BlackRock Inc. raised its holdings in shares of UiPath, Inc. (NYSE:PATH - Free Report) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,153,124 shares of the company's stock after buying an additional 3,097,822 shares during the quarter. BlackRock Inc. owned about 8.91% of UiPath worth $501,684,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PATH. HighMark Wealth Management LLC acquired a new position in UiPath during the fourth quarter worth about $25,000. Trifecta Capital Advisors LLC purchased a new position in UiPath in the 2nd quarter worth approximately $27,000. TD Waterhouse Canada Inc. lifted its stake in UiPath by 1,270.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company's stock worth $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 4th quarter worth approximately $37,000. 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 purchasing an additional 3,000 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Price Performance

Shares of NYSE PATH opened at $16.57 on Tuesday. The company has a market capitalization of $8.58 billion, a P/E ratio of 27.61, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a 50 day simple moving average of $12.60 and a 200-day simple moving average of $11.60. UiPath, Inc. has a 1 year low of $9.20 and a 1 year high of $19.84.

UiPath (NYSE:PATH - Get Free Report) last issued 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. The company had revenue of $418.38 million during the quarter, compared to analyst estimates of $397.54 million. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The firm's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, research analysts expect that UiPath, Inc. will post 0.4 EPS for the current year.

Insiders Place Their Bets

In other UiPath news, CEO Daniel Dines sold 1,402,347 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $16.07, for a total transaction of $22,535,716.29. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PATH has been the subject of several recent research reports. UBS Group cut their price target on UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Monday, June 29th. Royal Bank Of Canada boosted their price objective on UiPath from $12.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Friday, August 14th. Wall Street Zen cut UiPath from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. DA Davidson dropped their target price on UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, May 29th. Finally, Bank of America raised their target price on UiPath from $12.00 to $13.00 and gave the stock an "underperform" rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, UiPath has a consensus rating of "Hold" and a consensus target price of $13.87.

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. 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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