Oppenheimer & Co. Inc. Increases Stake in UiPath Inc. (NYSE:PATH)

Oppenheimer & Co. Inc. grew its stake in UiPath Inc. (NYSE:PATH) by 4.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 199,819 shares of the healthcare company’s stock after buying an additional 7,926 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in UiPath were worth $4,530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of UiPath during the 4th quarter worth about $25,000. HighMark Wealth Management LLC acquired a new stake in shares of UiPath during the 4th quarter worth about $27,000. ORG Partners LLC raised its position in shares of UiPath by 875.6% during the 1st quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock worth $27,000 after acquiring an additional 1,112 shares in the last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of UiPath during the 4th quarter worth about $29,000. Finally, GAMMA Investing LLC acquired a new stake in shares of UiPath during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Trading Up 2.3 %

NYSE:PATH opened at $12.63 on Friday. The firm has a market cap of $7.23 billion, a P/E ratio of -78.94 and a beta of 0.86. The stock’s 50 day simple moving average is $14.84 and its 200-day simple moving average is $19.89. UiPath Inc. has a 12-month low of $11.07 and a 12-month high of $27.87.

UiPath (NYSE:PATH) last released its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The business had revenue of $335.11 million for the quarter, compared to analyst estimates of $332.84 million. Research analysts forecast that UiPath Inc. will post -0.21 EPS for the current fiscal year.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the sale, the chief financial officer now directly owns 946,848 shares in the company, valued at $18,738,121.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 22.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PATH shares. Mizuho cut their price target on UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Macquarie lowered UiPath from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $12.00 in a research report on Monday, June 3rd. William Blair lowered UiPath from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 30th. Truist Financial reaffirmed a “hold” rating and set a $14.00 price target (down previously from $32.00) on shares of UiPath in a research report on Thursday, May 30th. Finally, Wells Fargo & Company cut their price target on UiPath from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Sixteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, UiPath has an average rating of “Hold” and a consensus target price of $18.06.

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.