Mackenzie Financial Corp Increases Stock Position in UiPath Inc. (NYSE:PATH)

Mackenzie Financial Corp raised its position in UiPath Inc. (NYSE:PATH) by 215.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 401,876 shares of the healthcare company’s stock after acquiring an additional 274,505 shares during the quarter. Mackenzie Financial Corp owned approximately 0.07% of UiPath worth $5,096,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PATH. ORG Partners LLC boosted its holdings in shares of UiPath by 875.6% during the first quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock worth $27,000 after purchasing an additional 1,112 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of UiPath during the second quarter worth about $28,000. Redwood Wealth Management Group LLC purchased a new stake in shares of UiPath during the second quarter worth about $43,000. GAMMA Investing LLC boosted its holdings in shares of UiPath by 40.2% during the first quarter. GAMMA Investing LLC now owns 2,204 shares of the healthcare company’s stock worth $50,000 after purchasing an additional 632 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of UiPath by 122.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,556 shares of the healthcare company’s stock worth $58,000 after purchasing an additional 1,407 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Stock Down 3.2 %

Shares of PATH opened at $12.40 on Wednesday. The company has a market capitalization of $7.10 billion, a P/E ratio of -77.47 and a beta of 0.87. The firm has a 50 day moving average of $12.17 and a 200 day moving average of $15.29. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87.

UiPath (NYSE:PATH) last announced its quarterly 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 the consensus estimate of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) earnings per share. On average, sell-side analysts expect that UiPath Inc. will post -0.23 EPS for the current year.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction that occurred 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 owns 849,917 shares of the company’s stock, valued at $10,258,498.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on PATH shares. TD Cowen lowered their price objective on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, September 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, September 6th. DA Davidson raised their price objective on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Barclays raised their price objective on shares of UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Finally, BMO Capital Markets raised their price objective 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. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.71.

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.