Hsbc Holdings PLC Buys 172,050 Shares of UiPath Inc. (NYSE:PATH)

Hsbc Holdings PLC boosted its stake in shares of UiPath Inc. (NYSE:PATH) by 122.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 313,075 shares of the healthcare company’s stock after purchasing an additional 172,050 shares during the quarter. Hsbc Holdings PLC owned about 0.05% of UiPath worth $3,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after buying an additional 2,133,078 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in UiPath by 0.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 295,370 shares of the healthcare company’s stock valued at $6,696,000 after acquiring an additional 1,571 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of UiPath by 4.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 231,694 shares of the healthcare company’s stock valued at $5,240,000 after purchasing an additional 9,393 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of UiPath by 245.1% in the first quarter. Acadian Asset Management LLC now owns 45,700 shares of the healthcare company’s stock worth $1,032,000 after purchasing an additional 32,456 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in shares of UiPath by 38.4% during the 4th quarter. Neuberger Berman Group LLC now owns 20,133 shares of the healthcare company’s stock worth $500,000 after purchasing an additional 5,586 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Price Performance

UiPath stock opened at $12.94 on Wednesday. The firm has a market capitalization of $7.41 billion, a P/E ratio of -80.88 and a beta of 0.87. The stock has a fifty day moving average price of $12.14 and a two-hundred day moving average price of $15.68. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) EPS. On average, equities research analysts predict that UiPath Inc. will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on PATH. KeyCorp reaffirmed a “sector weight” rating on shares of UiPath in a report on Thursday, May 30th. DA Davidson upped their target price on shares of UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Morgan Stanley restated an “equal weight” rating and issued a $15.00 price target on shares of UiPath in a research report on Friday, September 6th. TD Cowen dropped their price objective on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Finally, Bank of America increased their target price on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.71.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the sale, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.37% of the stock is owned by company insiders.

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.