Principal Financial Group Inc. Cuts Holdings in UiPath Inc. (NYSE:PATH)

Principal Financial Group Inc. trimmed its position in UiPath Inc. (NYSE:PATH) by 9.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 33,208 shares of the healthcare company’s stock after selling 3,564 shares during the period. Principal Financial Group Inc.’s holdings in UiPath were worth $421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in UiPath by 3.1% in the fourth quarter. Intech Investment Management LLC now owns 14,324 shares of the healthcare company’s stock valued at $356,000 after purchasing an additional 426 shares during the last quarter. Global Financial Private Client LLC lifted its holdings in UiPath by 9.3% during the first quarter. Global Financial Private Client LLC now owns 6,471 shares of the healthcare company’s stock valued at $144,000 after purchasing an additional 551 shares during the last quarter. GAMMA Investing LLC lifted its holdings in UiPath by 40.2% during the first quarter. GAMMA Investing LLC now owns 2,204 shares of the healthcare company’s stock valued at $50,000 after purchasing an additional 632 shares during the last quarter. Lindbrook Capital LLC boosted its position in UiPath by 46.0% during the first quarter. Lindbrook Capital LLC now owns 2,027 shares of the healthcare company’s stock worth $46,000 after purchasing an additional 639 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of UiPath by 35.0% in the first quarter. Advisors Asset Management Inc. now owns 3,037 shares of the healthcare company’s stock worth $69,000 after purchasing an additional 787 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Mizuho decreased their target price on shares of UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Canaccord Genuity Group lowered their target price on shares of UiPath from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Evercore ISI upped their target price on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Finally, Scotiabank lowered their target price on shares of UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 29th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, UiPath has a consensus rating of “Hold” and an average price target of $17.71.

UiPath Stock Up 4.1 %

PATH opened at $12.51 on Friday. UiPath Inc. has a 52 week low of $10.37 and a 52 week high of $27.87. The stock has a market cap of $7.17 billion, a PE ratio of -78.19 and a beta of 0.87. The business has a 50 day moving average of $12.12 and a 200-day moving average of $16.27.

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

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.