Sigma Planning Corp Takes Position in UiPath Inc. (NYSE:PATH)

Sigma Planning Corp bought a new position in shares of UiPath Inc. (NYSE:PATH) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 32,550 shares of the healthcare company’s stock, valued at approximately $809,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in UiPath by 7.6% during the third quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock valued at $645,916,000 after acquiring an additional 2,673,718 shares in the last quarter. FMR LLC raised its position in UiPath by 2.9% during the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after acquiring an additional 463,032 shares in the last quarter. Senvest Management LLC raised its position in UiPath by 3.0% during the third quarter. Senvest Management LLC now owns 6,209,655 shares of the healthcare company’s stock valued at $106,247,000 after acquiring an additional 181,722 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in UiPath by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,301,413 shares of the healthcare company’s stock valued at $131,687,000 after acquiring an additional 119,782 shares in the last quarter. Finally, Northern Trust Corp raised its position in UiPath by 10.4% during the third quarter. Northern Trust Corp now owns 2,467,710 shares of the healthcare company’s stock valued at $42,223,000 after acquiring an additional 233,362 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on UiPath from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Bank of America boosted their price objective on UiPath from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Wells Fargo & Company boosted their price objective on UiPath from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. upgraded UiPath from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $22.00 to $28.00 in a research report on Thursday, March 14th. Finally, Evercore ISI boosted their price objective on UiPath from $24.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, March 14th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.41.

UiPath Trading Up 3.4 %

Shares of PATH opened at $19.54 on Wednesday. UiPath Inc. has a one year low of $12.38 and a one year high of $27.87. The stock has a 50 day moving average price of $22.55 and a 200 day moving average price of $21.56.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. The firm had revenue of $405.25 million during the quarter, compared to analysts’ expectations of $383.32 million. Equities analysts anticipate that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.84, for a total transaction of $365,440.00. Following the transaction, the chief financial officer now owns 87,505 shares of the company’s stock, valued at $1,998,614.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 72,000 shares of company stock valued at $1,591,360. Insiders own 31.03% of the company’s stock.

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.