BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Position in UiPath Inc. (NYSE:PATH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of UiPath Inc. (NYSE:PATH) by 82.6% in the second quarter, HoldingsChannel.com reports. The fund owned 83,873 shares of the healthcare company’s stock after acquiring an additional 37,933 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in UiPath were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PATH. Xponance Inc. raised its stake in shares of UiPath by 12.4% in the second quarter. Xponance Inc. now owns 68,113 shares of the healthcare company’s stock valued at $864,000 after buying an additional 7,517 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of UiPath by 2.3% in the second quarter. Ensign Peak Advisors Inc now owns 198,878 shares of the healthcare company’s stock worth $2,522,000 after purchasing an additional 4,550 shares in the last quarter. Sei Investments Co. raised its position in shares of UiPath by 13.8% in the second quarter. Sei Investments Co. now owns 78,531 shares of the healthcare company’s stock valued at $996,000 after purchasing an additional 9,515 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of UiPath during the 2nd quarter valued at approximately $69,180,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of UiPath by 3.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 154,036 shares of the healthcare company’s stock valued at $1,953,000 after buying an additional 4,500 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

UiPath Stock Performance

Shares of UiPath stock opened at $12.80 on Monday. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87. The company’s 50 day moving average price is $12.16 and its 200-day moving average price is $15.43. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of -80.00 and a beta of 0.87.

UiPath (NYSE:PATH) last announced its quarterly earnings results 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. The business had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. As a group, equities research analysts forecast that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BMO Capital Markets raised their price target on UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Macquarie lowered UiPath from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $12.00 in a report on Monday, June 3rd. TD Cowen cut their price objective on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Evercore ISI upped their target price on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research note on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.71.

Insider Activity at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the completion of the sale, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. 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 company insiders.

UiPath Company 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.