27,466 Shares in UiPath Inc. (NASDAQ:PATH) Acquired by Northern Trust Corp

Northern Trust Corp bought a new position in UiPath Inc. (NASDAQ:PATH) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 27,466 shares of the healthcare company’s stock, valued at approximately $1,865,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trustcore Financial Services LLC acquired a new stake in shares of UiPath in the second quarter worth approximately $29,000. Sierra Capital LLC acquired a new stake in shares of UiPath in the second quarter worth approximately $34,000. Harbor Investment Advisory LLC purchased a new position in UiPath in the second quarter valued at approximately $42,000. Valley National Advisers Inc. purchased a new position in UiPath in the second quarter valued at approximately $48,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in UiPath in the second quarter valued at approximately $51,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

PATH has been the topic of several research reports. Royal Bank of Canada cut their price target on shares of UiPath from $74.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, October 7th. Cowen decreased their target price on shares of UiPath from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, October 8th. They noted that the move was a valuation call. Morgan Stanley lifted their price target on shares of UiPath from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 8th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of UiPath in a research report on Wednesday, October 6th. Finally, Oppenheimer reissued a “hold” rating on shares of UiPath in a research report on Wednesday, September 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.00.

In related news, CRO Thomas Neergaard Hansen sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $56.16, for a total transaction of $4,492,800.00. Following the transaction, the executive now owns 1,402,723 shares in the company, valued at $78,776,923.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ashim Gupta sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $56.10, for a total transaction of $1,122,000.00. Following the transaction, the chief financial officer now owns 598,091 shares in the company, valued at approximately $33,552,905.10. The disclosure for this sale can be found here. Insiders sold 401,357 shares of company stock worth $22,592,750 in the last 90 days. 28.60% of the stock is owned by company insiders.

PATH opened at $49.67 on Friday. UiPath Inc. has a fifty-two week low of $46.66 and a fifty-two week high of $90.00. The company’s 50-day moving average price is $52.40 and its 200 day moving average price is $61.61.

UiPath (NASDAQ:PATH) last released its quarterly earnings data on Monday, September 6th. The healthcare company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.06. The business had revenue of $195.52 million for the quarter, compared to analyst estimates of $186.72 million. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. Sell-side analysts predict that UiPath Inc. will post -0.82 earnings per share for the current fiscal 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, and Japan. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.

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Institutional Ownership by Quarter for UiPath (NASDAQ:PATH)