abrdn plc Has $3.40 Million Stock Holdings in UiPath Inc. (NYSE:PATH)

abrdn plc raised its stake in shares of UiPath Inc. (NYSE:PATH - Free Report) by 58.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,004 shares of the healthcare company's stock after purchasing an additional 50,336 shares during the period. abrdn plc's holdings in UiPath were worth $3,403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. HighMark Wealth Management LLC purchased a new position in shares of UiPath in the fourth quarter worth about $27,000. Fifth Third Bancorp lifted its stake in shares of UiPath by 2,005.3% in the third quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company's stock worth $34,000 after buying an additional 1,905 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of UiPath in the fourth quarter worth about $40,000. FSC Wealth Advisors LLC purchased a new position in shares of UiPath in the fourth quarter worth about $43,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of UiPath in the fourth quarter worth about $50,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Trading Up 1.6 %

Shares of PATH traded up $0.31 during mid-day trading on Monday, hitting $19.77. 4,752,185 shares of the company's stock were exchanged, compared to its average volume of 8,654,434. UiPath Inc. has a fifty-two week low of $12.38 and a fifty-two week high of $27.87. The firm has a market capitalization of $11.25 billion, a P/E ratio of -116.29 and a beta of 0.96. The business's 50 day moving average is $22.08 and its two-hundred day moving average is $21.64.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.10. The firm had revenue of $405.25 million during the quarter, compared to the consensus estimate of $383.32 million. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. On average, equities research analysts forecast that UiPath Inc. will post -0.04 earnings per share for the current year.

Insider Activity

In other news, CFO Ashim Gupta sold 16,000 shares of UiPath stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.84, for a total transaction of $365,440.00. Following the completion of the sale, the chief financial officer now directly owns 87,505 shares in the company, valued at approximately $1,998,614.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 72,000 shares of company stock worth $1,591,360. Company insiders own 31.03% of the company's stock.

Wall Street Analyst Weigh In

PATH has been the subject of several recent analyst reports. Evercore ISI raised their price objective on shares of UiPath from $24.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, March 14th. Bank of America raised their price objective on shares of UiPath from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, March 14th. Wells Fargo & Company raised their price objective on shares of UiPath from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of UiPath in a research report on Wednesday, March 20th. Finally, William Blair assumed coverage on shares of UiPath in a research report on Tuesday, January 2nd. They set an "outperform" rating for the company. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $27.41.

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.