Principal Financial Group Inc. Has $470,000 Stake in UiPath Inc. (NYSE:PATH)

Principal Financial Group Inc. raised its stake in shares of UiPath Inc. (NYSE:PATH) by 10.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,685 shares of the company’s stock after buying an additional 3,477 shares during the quarter. Principal Financial Group Inc.’s holdings in UiPath were worth $470,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. bought a new stake in shares of UiPath in the second quarter valued at about $69,180,000. Renaissance Technologies LLC bought a new position in shares of UiPath in the 2nd quarter valued at about $13,280,000. AQR Capital Management LLC increased its position in shares of UiPath by 120.6% in the second quarter. AQR Capital Management LLC now owns 1,633,393 shares of the company’s stock valued at $20,385,000 after acquiring an additional 892,845 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in UiPath by 37.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the company’s stock worth $35,296,000 after acquiring an additional 754,519 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in UiPath by 2,495.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 682,078 shares of the company’s stock valued at $8,649,000 after purchasing an additional 655,798 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

UiPath Stock Performance

Shares of PATH stock opened at $14.24 on Monday. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The company has a market cap of $7.83 billion, a PE ratio of -71.20 and a beta of 0.87. The stock’s fifty day moving average price is $12.71 and its two-hundred day moving average price is $13.11.

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

Insider Buying and Selling at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the completion of the transaction, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.37% of the company’s stock.

Wall Street Analyst Weigh In

PATH has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their target price on shares of UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. DA Davidson increased their price target on shares of UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Bank of America boosted their price objective on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company dropped their price target on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.47.

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.