Axa S.A. Raises Holdings in UiPath Inc. (NYSE:PATH)

Axa S.A. increased its position in UiPath Inc. (NYSE:PATH) by 89.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 53,016 shares of the healthcare company’s stock after purchasing an additional 25,094 shares during the period. Axa S.A.’s holdings in UiPath were worth $672,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PATH. Toronto Dominion Bank boosted its holdings in shares of UiPath by 15.4% in the second quarter. Toronto Dominion Bank now owns 42,654 shares of the healthcare company’s stock valued at $541,000 after acquiring an additional 5,704 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in UiPath by 82.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 83,873 shares of the healthcare company’s stock valued at $1,064,000 after purchasing an additional 37,933 shares during the last quarter. Xponance Inc. boosted its stake in UiPath by 12.4% during the 2nd quarter. Xponance Inc. now owns 68,113 shares of the healthcare company’s stock worth $864,000 after purchasing an additional 7,517 shares during the period. Ensign Peak Advisors Inc boosted its holdings in UiPath by 2.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 198,878 shares of the healthcare company’s stock valued at $2,522,000 after purchasing an additional 4,550 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of UiPath by 13.8% during the 2nd quarter. Sei Investments Co. now owns 78,531 shares of the healthcare company’s stock worth $996,000 after buying an additional 9,515 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Price Performance

Shares of NYSE PATH opened at $12.40 on Wednesday. The company has a 50-day simple moving average of $12.17 and a 200-day simple moving average of $15.29. The company has a market cap of $7.10 billion, a PE ratio of -77.47 and a beta of 0.87. UiPath Inc. has a 12 month low of $10.37 and a 12 month high of $27.87.

UiPath (NYSE:PATH) last released its earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. UiPath’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. On average, analysts anticipate that UiPath Inc. will post -0.23 EPS for the current year.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the sale, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 22.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on PATH shares. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, September 6th. DA Davidson upped their price target on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Barclays 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. TD Cowen lowered their target price on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Bank of America lifted their price target on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.71.

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.