Jupiter Asset Management Ltd. boosted its position in shares of UiPath, Inc. (NYSE:PATH – Free Report) by 544.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 916,061 shares of the company’s stock after purchasing an additional 773,883 shares during the period. Jupiter Asset Management Ltd. owned about 0.17% of UiPath worth $11,726,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PATH. AdvisorNet Financial Inc lifted its stake in UiPath by 320.4% in the 2nd quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company’s stock valued at $32,000 after acquiring an additional 1,887 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of UiPath by 48.0% in the second quarter. GAMMA Investing LLC now owns 2,989 shares of the company’s stock valued at $38,000 after purchasing an additional 969 shares during the last quarter. IFP Advisors Inc lifted its position in shares of UiPath by 508.0% in the second quarter. IFP Advisors Inc now owns 3,283 shares of the company’s stock worth $42,000 after purchasing an additional 2,743 shares in the last quarter. Bayforest Capital Ltd lifted its position in shares of UiPath by 852.4% in the second quarter. Bayforest Capital Ltd now owns 4,143 shares of the company’s stock worth $53,000 after purchasing an additional 3,708 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in UiPath during the second quarter worth $55,000. 62.50% of the stock is currently owned by institutional investors.
UiPath Stock Performance
Shares of PATH opened at $14.21 on Thursday. The firm has a market cap of $7.55 billion, a P/E ratio of 473.77, a price-to-earnings-growth ratio of 5.32 and a beta of 1.09. UiPath, Inc. has a 52 week low of $9.38 and a 52 week high of $18.74. The firm’s 50-day simple moving average is $14.11 and its 200 day simple moving average is $12.84.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on PATH. Weiss Ratings reiterated a “sell (d+)” rating on shares of UiPath in a research note on Thursday, October 30th. DA Davidson started coverage on UiPath in a research report on Friday, September 5th. They issued a “neutral” rating and a $12.00 target price on the stock. Zacks Research lowered UiPath from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. BMO Capital Markets boosted their target price on shares of UiPath from $12.50 to $13.00 and gave the stock a “market perform” rating in a report on Thursday, October 2nd. Finally, Wall Street Zen downgraded UiPath from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 25th. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.71.
Get Our Latest Report on UiPath
Insiders Place Their Bets
In other news, CFO Ashim Gupta sold 240,874 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $17.28, for a total value of $4,162,302.72. Following the completion of the sale, the chief financial officer owned 696,117 shares of the company’s stock, valued at approximately $12,028,901.76. The trade was a 25.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel Dines sold 122,734 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $14.89, for a total transaction of $1,827,509.26. Following the transaction, the chief executive officer directly owned 613,670 shares in the company, valued at approximately $9,137,546.30. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,319,002 shares of company stock worth $34,094,875. Insiders own 23.19% of the company’s stock.
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.
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