UiPath Inc. (NYSE:PATH) Shares Acquired by Cowa LLC

Cowa LLC grew its holdings in UiPath Inc. (NYSE:PATH) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,563 shares of the healthcare company’s stock after purchasing an additional 1,999 shares during the quarter. Cowa LLC’s holdings in UiPath were worth $324,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PATH. Norges Bank acquired a new stake in shares of UiPath in the fourth quarter valued at approximately $165,749,000. Vanguard Group Inc. lifted its stake in shares of UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after buying an additional 2,133,078 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of UiPath during the fourth quarter valued at approximately $48,267,000. Renaissance Technologies LLC purchased a new position in shares of UiPath during the second quarter valued at approximately $13,280,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of UiPath by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock valued at $35,296,000 after buying an additional 754,519 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PATH. Mizuho reduced their price objective on shares of UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. JPMorgan Chase & Co. reduced their price objective on shares of UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price objective on shares of UiPath in a research note on Friday, September 6th. Bank of America upped their price objective on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, TD Cowen cut their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.71.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the sale, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 22.37% of the company’s stock.

UiPath Trading Up 1.2 %

Shares of PATH stock opened at $12.45 on Friday. The company’s fifty day simple moving average is $12.12 and its 200-day simple moving average is $16.03. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The company has a market cap of $7.13 billion, a PE ratio of -77.81 and a beta of 0.87.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business had revenue of $316.00 million for the quarter, compared to the consensus estimate of $303.69 million. During the same quarter last year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts expect that UiPath Inc. will post -0.23 EPS for the current fiscal year.

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.