abrdn plc Boosts Stake in UiPath Inc. (NYSE:PATH)

abrdn plc increased its position in UiPath Inc. (NYSE:PATH) by 58.1% in the fourth quarter, HoldingsChannel reports. The firm owned 137,004 shares of the healthcare company’s stock after purchasing an additional 50,336 shares during the quarter. abrdn plc’s holdings in UiPath were worth $3,403,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PATH. HighMark Wealth Management LLC bought a new position in shares of UiPath in the fourth quarter worth approximately $27,000. FNY Investment Advisers LLC purchased a new position in UiPath in the 4th quarter worth approximately $40,000. FSC Wealth Advisors LLC bought a new position in UiPath in the 4th quarter valued at approximately $43,000. Fifth Third Bancorp boosted its stake in UiPath by 2,005.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after purchasing an additional 1,905 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of UiPath in the 4th quarter worth $50,000. 62.50% of the stock is currently owned by institutional investors.

UiPath Stock Performance

NYSE PATH opened at $19.46 on Monday. The business’s fifty day moving average is $22.19 and its 200 day moving average is $21.61. UiPath Inc. has a fifty-two week low of $12.38 and a fifty-two week high of $27.87. The company has a market capitalization of $11.07 billion, a PE ratio of -114.47 and a beta of 0.96.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. The firm had revenue of $405.25 million for the quarter, compared to the consensus estimate of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. On average, sell-side analysts forecast that UiPath Inc. will post -0.04 EPS for the current year.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $22.47, for a total value of $359,520.00. Following the completion of the sale, 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 accessible through the SEC website. Insiders have sold 72,000 shares of company stock valued at $1,591,360 over the last 90 days. 31.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PATH has been the topic of a number of research analyst reports. KeyCorp started coverage on UiPath in a report on Monday, April 8th. They set an “overweight” rating and a $27.00 price target on the stock. Scotiabank raised their price target on shares of UiPath from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Thursday, March 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of UiPath in a report on Monday, April 1st. Bank of America raised their target price on shares of UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, BMO Capital Markets lifted their target price on shares of UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, UiPath has a consensus 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, 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.