Simplicity Solutions LLC Boosts Stake in UiPath Inc. (NYSE:PATH)

Simplicity Solutions LLC grew its position in shares of UiPath Inc. (NYSE:PATH) by 4.9% during 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 period. Simplicity Solutions LLC’s holdings in UiPath were worth $315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighMark Wealth Management LLC purchased a new stake in shares of UiPath in the 4th quarter worth approximately $27,000. Tyler Stone Wealth Management purchased a new stake in shares of UiPath in the 2nd quarter worth approximately $28,000. Fifth Third Bancorp grew its stake in shares of UiPath by 2,005.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock worth $34,000 after buying an additional 1,905 shares during the last quarter. Quarry LP purchased a new stake in shares of UiPath in the 1st quarter worth approximately $36,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of UiPath in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $21.66, for a total value of $866,400.00. Following the transaction, the chief financial officer now directly owns 660,762 shares of the company’s stock, valued at approximately $14,312,104.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 72,000 shares of company stock valued at $1,591,360. 31.03% of the stock is owned by company insiders.

UiPath Price Performance

NYSE PATH opened at $18.74 on Friday. The business’s fifty day moving average price is $22.82 and its 200-day moving average price is $21.45. UiPath Inc. has a 1-year low of $12.38 and a 1-year high of $27.87.

UiPath (NYSE:PATH) last announced its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $383.32 million. Research analysts anticipate that UiPath Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PATH shares. Mizuho upped their price target on UiPath from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Bank of America upped their price target on UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Truist Financial reaffirmed a “buy” rating and issued a $32.00 price objective on shares of UiPath in a research report on Wednesday, March 20th. William Blair assumed coverage on UiPath in a research report on Tuesday, January 2nd. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of UiPath in a research report on Wednesday, March 20th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.