Mirae Asset Global Investments Co. Ltd. Grows Stake in UiPath, Inc. (NYSE:PATH)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of UiPath, Inc. (NYSE:PATH) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,811 shares of the company’s stock after buying an additional 9,125 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in UiPath were worth $800,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PATH. Bank of New York Mellon Corp raised its holdings in UiPath by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company’s stock valued at $30,984,000 after buying an additional 66,100 shares during the period. Proficio Capital Partners LLC bought a new position in UiPath in the 4th quarter worth approximately $307,000. Smartleaf Asset Management LLC grew its position in UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after buying an additional 1,152 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of UiPath by 409.3% during the 4th quarter. Jones Financial Companies Lllp now owns 12,743 shares of the company’s stock valued at $162,000 after purchasing an additional 10,241 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in UiPath by 99.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,807 shares of the company’s stock valued at $74,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Performance

Shares of NYSE:PATH opened at $13.27 on Friday. UiPath, Inc. has a twelve month low of $9.38 and a twelve month high of $15.93. The firm has a market cap of $7.10 billion, a PE ratio of -110.57, a price-to-earnings-growth ratio of 17.41 and a beta of 1.04. The business has a fifty day moving average of $12.60 and a 200-day moving average of $12.47.

UiPath (NYSE:PATH) last released its earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The company had revenue of $356.62 million for the quarter, compared to the consensus estimate of $332.17 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that UiPath, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PATH shares. UBS Group cut their target price on shares of UiPath from $14.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, March 13th. Bank of America reaffirmed an “underperform” rating and set a $10.00 price target (down from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Wells Fargo & Company restated an “equal weight” rating on shares of UiPath in a report on Friday, May 30th. Mizuho decreased their price target on shares of UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, Evercore ISI upped their price target on UiPath from $11.00 to $15.00 and gave the stock an “in-line” rating in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.83.

Insider Activity at UiPath

In other UiPath news, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $12.54, for a total value of $564,300.00. Following the sale, the chief executive officer owned 5,463,376 shares of the company’s stock, valued at $68,510,735.04. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ashim Gupta sold 98,795 shares of UiPath stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the sale, the chief financial officer owned 987,322 shares in the company, valued at $11,857,737.22. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 380,117 shares of company stock worth $4,726,694 in the last three months. 23.19% of the stock is owned by insiders.

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.