Axxcess Wealth Management LLC Increases Stake in UiPath Inc. (NYSE:PATH)

Axxcess Wealth Management LLC raised its position in UiPath Inc. (NYSE:PATHGet Rating) by 48.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 29,015 shares of the healthcare company’s stock after purchasing an additional 9,511 shares during the period. Axxcess Wealth Management LLC’s holdings in UiPath were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC acquired a new stake in shares of UiPath in the 2nd quarter worth $212,000. abrdn plc increased its stake in shares of UiPath by 53.7% in the 1st quarter. abrdn plc now owns 28,197 shares of the healthcare company’s stock worth $610,000 after acquiring an additional 9,857 shares during the last quarter. Treasurer of the State of North Carolina acquired a new stake in shares of UiPath in the 2nd quarter worth $2,871,000. Alps Advisors Inc. acquired a new stake in shares of UiPath during the 2nd quarter worth about $2,145,000. Finally, FDx Advisors Inc. increased its position in shares of UiPath by 21.8% during the 2nd quarter. FDx Advisors Inc. now owns 21,910 shares of the healthcare company’s stock worth $399,000 after purchasing an additional 3,924 shares during the last quarter. Hedge funds and other institutional investors own 51.35% of the company’s stock.

Wall Street Analysts Forecast Growth

PATH has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price objective on UiPath from $22.00 to $18.00 in a research report on Wednesday, September 7th. Barclays downgraded UiPath from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $17.00 to $15.00 in a research report on Tuesday, October 18th. Canaccord Genuity Group dropped their target price on UiPath from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, September 30th. Cowen dropped their target price on UiPath from $27.00 to $20.00 in a research report on Wednesday, September 7th. Finally, Canaccord Genuity Group dropped their target price on UiPath from $15.00 to $14.00 in a research report on Friday, September 30th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.13.

UiPath Stock Up 4.6 %

PATH stock opened at $12.49 on Thursday. The business has a 50 day moving average price of $12.44 and a 200 day moving average price of $16.28. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of -15.61 and a beta of 0.46. UiPath Inc. has a fifty-two week low of $10.40 and a fifty-two week high of $51.15.

UiPath (NYSE:PATHGet Rating) last posted its earnings results on Tuesday, September 6th. The healthcare company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.06. The firm had revenue of $242.22 million during the quarter, compared to analysts’ expectations of $230.68 million. UiPath had a negative return on equity of 19.19% and a negative net margin of 42.98%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that UiPath Inc. will post -0.63 EPS for the current year.

Insider Buying and Selling at UiPath

In other UiPath news, CAO Hitesh Ramani sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $12.10, for a total value of $25,410.00. Following the completion of the sale, the chief accounting officer now owns 395,717 shares in the company, valued at $4,788,175.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other UiPath news, CAO Hitesh Ramani sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $12.10, for a total value of $25,410.00. Following the completion of the sale, the chief accounting officer now owns 395,717 shares in the company, valued at $4,788,175.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Ashim Gupta sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $15.02, for a total value of $450,600.00. Following the completion of the transaction, the chief financial officer now directly owns 1,347,266 shares in the company, valued at approximately $20,235,935.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,600 shares of company stock worth $991,824. 31.88% of the stock is owned by insiders.

About UiPath

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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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.

See Also

Institutional Ownership by Quarter for UiPath (NYSE:PATH)

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