UiPath Inc. (NYSE:PATH) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in UiPath Inc. (NYSE:PATH) by 50.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,135 shares of the healthcare company’s stock after purchasing an additional 6,385 shares during the quarter. PNC Financial Services Group Inc.’s holdings in UiPath were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PATH. Invesco Ltd. boosted its holdings in shares of UiPath by 2.8% in the third quarter. Invesco Ltd. now owns 399,181 shares of the healthcare company’s stock valued at $6,830,000 after acquiring an additional 10,863 shares in the last quarter. Mariner LLC boosted its holdings in shares of UiPath by 17.6% in the third quarter. Mariner LLC now owns 61,688 shares of the healthcare company’s stock valued at $1,055,000 after acquiring an additional 9,253 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of UiPath by 35.3% in the third quarter. Stifel Financial Corp now owns 396,584 shares of the healthcare company’s stock valued at $6,786,000 after acquiring an additional 103,566 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of UiPath by 2.8% in the third quarter. Federated Hermes Inc. now owns 47,838 shares of the healthcare company’s stock valued at $819,000 after acquiring an additional 1,294 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in UiPath by 10.4% during the third quarter. Northern Trust Corp now owns 2,467,710 shares of the healthcare company’s stock worth $42,223,000 after buying an additional 233,362 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PATH shares. Morgan Stanley reduced their target price on shares of UiPath from $25.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Bank of America restated a “neutral” rating and set a $16.00 target price (down from $30.00) on shares of UiPath in a report on Thursday, May 30th. BMO Capital Markets reduced their target price on shares of UiPath from $28.00 to $14.00 and set a “market perform” rating for the company in a report on Monday, June 3rd. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Thursday, May 30th. Finally, Wells Fargo & Company reduced their target price on shares of UiPath from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.06.

UiPath Stock Up 3.8 %

PATH stock opened at $12.68 on Friday. UiPath Inc. has a 12-month low of $11.07 and a 12-month high of $27.87. The company has a market cap of $7.26 billion, a price-to-earnings ratio of -79.25 and a beta of 0.85. The company has a 50 day moving average of $16.30 and a two-hundred day moving average of $20.89.

UiPath (NYSE:PATH) last released its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). UiPath had a negative net margin of 6.41% and a negative return on equity of 2.97%. The company had revenue of $335.11 million during the quarter, compared to the consensus estimate of $332.84 million. On average, research analysts anticipate that UiPath Inc. will post -0.2 EPS for the current year.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $19.79, for a total transaction of $791,600.00. Following the transaction, the chief financial officer now owns 946,848 shares in the company, valued at approximately $18,738,121.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.37% of the stock is owned by insiders.

About UiPath

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.