UiPath Inc. (NYSE:PATH) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of UiPath Inc. (NYSE:PATH) by 792.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,089 shares of the healthcare company’s stock after purchasing an additional 1,855 shares during the period. Allspring Global Investments Holdings LLC’s holdings in UiPath were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Royal London Asset Management Ltd. increased its stake in UiPath by 5.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 139,544 shares of the healthcare company’s stock worth $2,388,000 after buying an additional 7,742 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of UiPath during the third quarter worth approximately $203,000. Invesco Ltd. raised its stake in UiPath by 2.8% in the 3rd quarter. Invesco Ltd. now owns 399,181 shares of the healthcare company’s stock valued at $6,830,000 after purchasing an additional 10,863 shares during the last quarter. Symmetry Partners LLC purchased a new position in UiPath in the 4th quarter valued at $205,000. Finally, Toroso Investments LLC boosted its stake in UiPath by 196.7% during the 3rd quarter. Toroso Investments LLC now owns 78,189 shares of the healthcare company’s stock worth $1,338,000 after purchasing an additional 51,834 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PATH shares. JPMorgan Chase & Co. upgraded shares of UiPath from a “neutral” rating to an “overweight” rating and increased their target price for the company from $22.00 to $28.00 in a research report on Thursday, March 14th. TD Cowen boosted their target price on UiPath from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Scotiabank increased their price target on UiPath from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Thursday, March 14th. DA Davidson lifted their price objective on UiPath from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of UiPath in a report on Wednesday, March 20th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.41.

Insider Activity

In related news, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.84, for a total transaction of $365,440.00. Following the transaction, the chief financial officer now owns 87,505 shares of the company’s stock, valued at approximately $1,998,614.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 72,000 shares of company stock valued at $1,591,360. 31.03% of the stock is currently owned by corporate insiders.

UiPath Price Performance

Shares of PATH stock opened at $19.77 on Tuesday. The company has a 50-day moving average of $22.08 and a two-hundred day moving average of $21.64. The firm has a market cap of $11.25 billion, a PE ratio of -116.29 and a beta of 0.96. UiPath Inc. has a 1-year low of $12.38 and a 1-year high of $27.87.

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

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.