Acadian Asset Management LLC Has $2.33 Million Holdings in UiPath Inc. (NYSE:PATH)

Acadian Asset Management LLC lifted its position in shares of UiPath Inc. (NYSE:PATH) by 302.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,801 shares of the healthcare company’s stock after buying an additional 138,101 shares during the quarter. Acadian Asset Management LLC’s holdings in UiPath were worth $2,328,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after buying an additional 2,133,078 shares during the period. Norges Bank acquired a new stake in UiPath in the fourth quarter worth $165,749,000. Bank of New York Mellon Corp grew its holdings in UiPath by 20.8% in the second quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the healthcare company’s stock worth $32,371,000 after purchasing an additional 439,344 shares during the period. Dimensional Fund Advisors LP grew its holdings in UiPath by 11.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,232,060 shares of the healthcare company’s stock worth $55,454,000 after purchasing an additional 232,700 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new stake in UiPath in the fourth quarter worth $48,267,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

UiPath Stock Performance

NYSE PATH opened at $12.52 on Friday. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87. The company has a 50-day simple moving average of $12.12 and a 200 day simple moving average of $16.32. The company has a market capitalization of $7.17 billion, a PE ratio of -78.25 and a beta of 0.87.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same quarter last year, the company posted ($0.09) earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts forecast that UiPath Inc. will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PATH shares. TD Cowen reduced their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, September 6th. Mizuho reduced their price target on shares of UiPath from $25.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Evercore ISI raised their price objective on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Wells Fargo & Company raised their price objective on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Finally, Bank of America raised their price objective on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.71.

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.