Bank of America Corp DE Has $111.52 Million Stock Holdings in UiPath, Inc. $PATH

Bank of America Corp DE lifted its position in shares of UiPath, Inc. (NYSE:PATH) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,046,699 shares of the company’s stock after purchasing an additional 1,170,285 shares during the quarter. Bank of America Corp DE’s holdings in UiPath were worth $111,518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of UiPath by 1.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 37,871 shares of the company’s stock valued at $621,000 after purchasing an additional 720 shares in the last quarter. Meeder Advisory Services Inc. grew its position in UiPath by 7.6% in the fourth quarter. Meeder Advisory Services Inc. now owns 12,132 shares of the company’s stock worth $199,000 after buying an additional 861 shares during the last quarter. Pasadena Private Wealth LLC grew its position in UiPath by 9.0% in the first quarter. Pasadena Private Wealth LLC now owns 12,750 shares of the company’s stock worth $142,000 after buying an additional 1,050 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of UiPath by 36.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,968 shares of the company’s stock valued at $81,000 after buying an additional 1,329 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of UiPath by 5.6% in the fourth quarter. Corient Private Wealth LLC now owns 27,283 shares of the company’s stock valued at $447,000 after buying an additional 1,455 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PATH shares. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of UiPath in a research note on Friday, May 29th. BMO Capital Markets decreased their target price on shares of UiPath from $14.00 to $13.00 and set a “market perform” rating for the company in a research note on Monday, June 1st. Bank of America boosted their price target on shares of UiPath from $12.00 to $13.00 and gave the company an “underperform” rating in a report on Friday, May 29th. UBS Group dropped their price target on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of UiPath in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, UiPath currently has a consensus rating of “Hold” and a consensus price target of $13.80.

UiPath Trading Up 7.4%

Shares of PATH stock opened at $15.04 on Friday. The firm has a market capitalization of $7.79 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 1.68 and a beta of 0.96. UiPath, Inc. has a 1 year low of $9.20 and a 1 year high of $19.84. The firm’s fifty day simple moving average is $11.58 and its 200 day simple moving average is $11.46.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The firm had revenue of $418.38 million during the quarter, compared to the consensus estimate of $397.54 million. During the same period in the prior year, the firm earned $0.11 EPS. The business’s revenue was up 17.3% on a year-over-year basis. Equities research analysts anticipate that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

About UiPath

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.