Bleakley Financial Group LLC Boosts Position in UiPath Inc. (NYSE:PATH)

Bleakley Financial Group LLC boosted its position in shares of UiPath Inc. (NYSE:PATH) by 4.9% in the fourth quarter, Holdings Channel reports. The fund owned 12,691 shares of the healthcare company’s stock after purchasing an additional 598 shares during the quarter. Bleakley Financial Group LLC’s holdings in UiPath were worth $315,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in UiPath by 7.6% during the third quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock valued at $645,916,000 after acquiring an additional 2,673,718 shares during the last quarter. BlackRock Inc. increased its position in UiPath by 32.1% during the second quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock valued at $387,354,000 after acquiring an additional 5,681,577 shares during the last quarter. FMR LLC increased its position in UiPath by 2.9% during the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after acquiring an additional 463,032 shares during the last quarter. Goldman Sachs Group Inc. increased its position in UiPath by 37.4% during the second quarter. Goldman Sachs Group Inc. now owns 11,662,087 shares of the healthcare company’s stock valued at $193,241,000 after acquiring an additional 3,172,300 shares during the last quarter. Finally, Altimeter Capital Management LP increased its position in UiPath by 175.4% during the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock valued at $71,579,000 after acquiring an additional 5,270,194 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $22.47, for a total transaction of $359,520.00. Following the completion of the transaction, the chief financial officer now directly owns 103,505 shares of the company’s stock, valued at $2,325,757.35. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 72,000 shares of company stock valued at $1,591,360. Insiders own 31.03% of the company’s stock.

UiPath Price Performance

Shares of UiPath stock opened at $20.71 on Monday. The stock has a 50 day moving average of $23.30 and a 200 day moving average of $21.44. UiPath Inc. has a 12 month low of $12.38 and a 12 month high of $27.87.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. The company had revenue of $405.25 million during the quarter, compared to analyst estimates of $383.32 million. As a group, analysts forecast that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PATH has been the subject of several recent research reports. JPMorgan Chase & Co. raised UiPath from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $22.00 to $28.00 in a report on Thursday, March 14th. Canaccord Genuity Group boosted their price target on UiPath from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of UiPath in a report on Monday, April 1st. Barclays boosted their price target on UiPath from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, March 15th. Finally, Evercore ISI boosted their price target on UiPath from $24.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, March 14th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, UiPath currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.41.

UiPath 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.