PNC Financial Services Group Inc. Purchases 6,385 Shares of UiPath Inc. (NYSE:PATH)

PNC Financial Services Group Inc. boosted its position in shares of UiPath Inc. (NYSE:PATH) by 50.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 19,135 shares of the healthcare company’s stock after buying an additional 6,385 shares during the quarter. PNC Financial Services Group Inc.’s holdings in UiPath were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. raised its position in UiPath by 5.9% during the third quarter. Royal London Asset Management Ltd. now owns 139,544 shares of the healthcare company’s stock worth $2,388,000 after acquiring an additional 7,742 shares in the last quarter. Swiss National Bank raised its position in shares of UiPath by 4.9% in the fourth quarter. Swiss National Bank now owns 1,211,500 shares of the healthcare company’s stock valued at $30,094,000 after purchasing an additional 56,600 shares during the period. Vestmark Advisory Solutions Inc. bought a new position in shares of UiPath in the fourth quarter valued at about $15,543,000. O Shaughnessy Asset Management LLC bought a new position in shares of UiPath in the third quarter valued at about $203,000. Finally, Invesco Ltd. raised its position in shares of UiPath by 2.8% in the third 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 period. 62.50% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $19.79, for a total value of $791,600.00. Following the sale, the chief financial officer now directly owns 946,848 shares in the company, valued at approximately $18,738,121.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 22.37% of the stock is currently owned by corporate insiders.

UiPath Stock Up 3.8 %

Shares of UiPath stock opened at $12.68 on Friday. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of -79.25 and a beta of 0.85. UiPath Inc. has a 12-month low of $11.07 and a 12-month high of $27.87. The firm’s 50-day moving average price is $16.30 and its two-hundred day moving average price is $20.89.

UiPath (NYSE:PATH) last announced its quarterly earnings data on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $335.11 million for the quarter, compared to the consensus estimate of $332.84 million. UiPath had a negative net margin of 6.41% and a negative return on equity of 2.97%. On average, sell-side analysts expect that UiPath Inc. will post -0.2 earnings per share for the current year.

Analyst Ratings Changes

PATH has been the topic of several research analyst reports. Macquarie lowered shares of UiPath from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $29.00 to $12.00 in a research report on Monday, June 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of UiPath in a research report on Monday, April 1st. DA Davidson dropped their price objective on shares of UiPath from $24.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Barclays decreased their price target on shares of UiPath from $25.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Finally, Evercore ISI decreased their price target on shares of UiPath from $27.00 to $13.00 and set an “in-line” rating on the stock in a research note on Thursday, May 30th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.06.

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.