Forsta AP Fonden Reduces Position in UiPath Inc. (NYSE:PATH)

Forsta AP Fonden decreased its holdings in UiPath Inc. (NYSE:PATH) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,000 shares of the healthcare company’s stock after selling 8,600 shares during the quarter. Forsta AP Fonden’s holdings in UiPath were worth $1,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PATH. Russell Investments Group Ltd. raised its holdings in shares of UiPath by 23.7% during the fourth quarter. Russell Investments Group Ltd. now owns 38,584 shares of the healthcare company’s stock valued at $958,000 after purchasing an additional 7,382 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of UiPath by 11.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,232,060 shares of the healthcare company’s stock valued at $55,454,000 after buying an additional 232,700 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of UiPath by 7.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,293 shares of the healthcare company’s stock worth $305,000 after buying an additional 811 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of UiPath by 27.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 170,409 shares of the healthcare company’s stock worth $4,233,000 after acquiring an additional 37,103 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in UiPath by 3.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 45,954 shares of the healthcare company’s stock valued at $1,141,000 after acquiring an additional 1,458 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

UiPath Price Performance

Shares of PATH opened at $12.48 on Tuesday. The firm has a market cap of $7.15 billion, a P/E ratio of -78.00 and a beta of 0.87. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $27.87. The company has a 50 day simple moving average of $12.11 and a two-hundred day simple moving average of $16.14.

UiPath (NYSE:PATH) last posted its earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. UiPath’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted ($0.09) earnings per share. On average, sell-side analysts anticipate that UiPath Inc. will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Friday, September 6th. JPMorgan Chase & Co. reduced their target price on shares of UiPath from $28.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. DA Davidson increased their price target on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Macquarie downgraded shares of UiPath from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $12.00 in a research report on Monday, June 3rd. Finally, Bank of America raised their target price on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.71.

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.