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

Principal Financial Group Inc. grew its position in UiPath Inc. (NYSE:PATH) by 10.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,685 shares of the company’s stock after purchasing 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.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in UiPath in the second quarter valued at $69,180,000. Jacobs Levy Equity Management Inc. raised its position in shares of UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after acquiring an additional 3,411,562 shares in the last quarter. Senvest Management LLC lifted its stake in UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new position in UiPath in the third quarter valued at approximately $19,071,000. Finally, Renaissance Technologies LLC purchased a new position in UiPath in the second quarter valued at approximately $13,280,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PATH. Morgan Stanley increased their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research report on Friday, December 6th. Wells Fargo & Company decreased their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Barclays lifted their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.50.

UiPath Price Performance

NYSE:PATH opened at $13.28 on Monday. The business’s 50-day moving average is $13.48 and its two-hundred day moving average is $12.72. The firm has a market capitalization of $7.30 billion, a PE ratio of -83.00 and a beta of 0.96. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87.

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.