6,672,661 Shares in UiPath Inc. (NYSE:PATH) Purchased by Norges Bank

Norges Bank purchased a new stake in UiPath Inc. (NYSE:PATH - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,672,661 shares of the healthcare company's stock, valued at approximately $165,749,000. Norges Bank owned approximately 1.18% of UiPath at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. HighMark Wealth Management LLC purchased a new position in shares of UiPath in the 4th quarter valued at about $27,000. Cypress Capital Management LLC WY purchased a new position in shares of UiPath in the 4th quarter valued at about $29,000. Fifth Third Bancorp increased its holdings in shares of UiPath by 2,005.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company's stock valued at $34,000 after acquiring an additional 1,905 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of UiPath in the 4th quarter valued at about $36,000. Finally, FNY Investment Advisers LLC purchased a new position in UiPath during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the firm's stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $21.66, for a total transaction of $866,400.00. Following the completion of the transaction, the chief financial officer now owns 660,762 shares of the company's stock, valued at $14,312,104.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 96,000 shares of company stock valued at $2,023,440. 22.37% of the stock is owned by insiders.

UiPath Trading Down 2.9 %

Shares of PATH traded down $0.57 during mid-day trading on Thursday, hitting $19.03. The company's stock had a trading volume of 6,505,261 shares, compared to its average volume of 8,035,275. The firm has a 50-day simple moving average of $20.78 and a 200 day simple moving average of $22.07. The firm has a market capitalization of $10.83 billion, a P/E ratio of -113.35 and a beta of 1.01. UiPath Inc. has a 1-year low of $13.30 and a 1-year high of $27.87.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $405.25 million during the quarter, compared to analysts' expectations of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. As a group, sell-side analysts predict that UiPath Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PATH shares. Mizuho raised their price target on UiPath from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, March 14th. Royal Bank of Canada restated a "sector perform" rating and set a $29.00 price target on shares of UiPath in a research note on Monday, April 1st. Truist Financial restated a "buy" rating and set a $32.00 price target on shares of UiPath in a research note on Wednesday, March 20th. Scotiabank raised their price target on UiPath from $29.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 14th. Finally, KeyCorp started coverage on UiPath in a research note on Monday, April 8th. They set an "overweight" rating and a $27.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, UiPath presently has an average rating of "Moderate Buy" and a consensus 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.