Mackenzie Financial Corp Buys 274,505 Shares of UiPath Inc. (NYSE:PATH)

Mackenzie Financial Corp boosted its stake in UiPath Inc. (NYSE:PATH) by 215.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 401,876 shares of the healthcare company’s stock after purchasing an additional 274,505 shares during the period. Mackenzie Financial Corp’s holdings in UiPath were worth $5,096,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PATH. Pacer Advisors Inc. bought a new stake in UiPath in the 2nd quarter worth approximately $69,180,000. Vanguard Group Inc. boosted its stake 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 acquiring an additional 2,133,078 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of UiPath during the 2nd quarter worth $13,280,000. AQR Capital Management LLC boosted its stake in shares of UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company’s stock worth $20,385,000 after acquiring an additional 892,845 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock worth $35,296,000 after acquiring an additional 754,519 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the sale, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 22.37% of the company’s stock.

UiPath Stock Performance

Shares of NYSE PATH opened at $12.40 on Wednesday. The company has a market cap of $7.10 billion, a P/E ratio of -77.47 and a beta of 0.87. The firm’s fifty day moving average is $12.17 and its two-hundred day moving average is $15.29. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $316.00 million for the quarter, compared to the consensus estimate of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. UiPath’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, analysts forecast that UiPath Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PATH. Bank of America lifted their price target on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Barclays lifted their price target on shares of UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. TD Cowen dropped their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Friday, September 6th. Finally, Wells Fargo & Company lifted their target price on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.71.

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.