VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in UiPath, Inc. $PATH

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of UiPath, Inc. (NYSE:PATH) in the 2nd quarter, Holdings Channel reports. The firm purchased 149,852 shares of the company’s stock, valued at approximately $1,629,000.

Other large investors also recently modified their holdings of the company. DNB Asset Management AS grew its position in UiPath by 266.4% during the 4th quarter. DNB Asset Management AS now owns 565,799 shares of the company’s stock worth $9,273,000 after acquiring an additional 411,395 shares during the last quarter. BlackRock Inc. raised its position in UiPath by 7.2% in the second quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock valued at $501,684,000 after purchasing an additional 3,097,822 shares during the last quarter. Redwood Investment Management LLC acquired a new stake in shares of UiPath during the second quarter valued at about $1,183,000. First Trust Advisors LP boosted its stake in shares of UiPath by 48.7% during the first quarter. First Trust Advisors LP now owns 1,624,148 shares of the company’s stock valued at $18,028,000 after purchasing an additional 532,157 shares in the last quarter. Finally, State of Michigan Retirement System bought a new stake in shares of UiPath during the first quarter worth about $1,143,000. 62.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PATH shares. TD Cowen upped their price objective on UiPath from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, September 4th. HC Wainwright reiterated a “buy” rating on shares of UiPath in a research report on Friday, September 4th. Barclays boosted their target price on shares of UiPath from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, September 4th. Oppenheimer restated a “market perform” rating on shares of UiPath in a research report on Friday, September 4th. Finally, UBS Group set a $16.00 price target on shares of UiPath in a research note on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.75.

UiPath Trading Down 0.8%

Shares of PATH stock opened at $13.76 on Friday. UiPath, Inc. has a 1-year low of $9.20 and a 1-year high of $19.84. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.36 and a beta of 1.02. The stock has a 50-day moving average of $14.20 and a 200-day moving average of $12.05.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. UiPath had a return on equity of 9.70% and a net margin of 21.03%.The company had revenue of $410.26 million for the quarter, compared to analyst estimates of $397.77 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Sell-side analysts forecast that UiPath, Inc. will post 0.47 earnings per share for the current year.

Insider Activity

In other news, CEO Daniel Dines sold 1,402,347 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $16.07, for a total value of $22,535,716.29. Following the transaction, the chief executive officer owned 26,491,238 shares in the company, valued at approximately $425,714,194.66. The trade was a 5.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 22.44% of the company’s stock.

About UiPath

UiPath Inc (NYSE: PATH) develops enterprise automation software designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation (RPA), artificial intelligence, workflow orchestration and process intelligence to support automation across areas such as finance, customer service, human resources, information technology and operations.

The UiPath Platform includes tools for discovering and analyzing business processes, building and managing software robots, processing documents, testing applications and coordinating automated workflows.