New York Life Investment Management LLC Takes Position in UiPath Inc. (NYSE:PATH)

New York Life Investment Management LLC acquired a new position in shares of UiPath Inc. (NYSE:PATH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,263 shares of the healthcare company’s stock, valued at approximately $1,099,000.

Several other large investors have also bought and sold shares of PATH. 180 Wealth Advisors LLC grew its holdings in UiPath by 0.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 188,950 shares of the healthcare company’s stock worth $4,497,000 after acquiring an additional 492 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in UiPath by 4.9% in the fourth quarter. Bleakley Financial Group LLC now owns 12,691 shares of the healthcare company’s stock valued at $315,000 after acquiring an additional 598 shares during the last quarter. Simplicity Solutions LLC increased its position in UiPath by 4.9% during the 4th quarter. Simplicity Solutions LLC now owns 12,691 shares of the healthcare company’s stock valued at $315,000 after purchasing an additional 598 shares during the period. Arizona State Retirement System lifted its position in shares of UiPath by 0.8% in the 3rd quarter. Arizona State Retirement System now owns 97,951 shares of the healthcare company’s stock worth $1,676,000 after purchasing an additional 733 shares during the period. Finally, Axxcess Wealth Management LLC boosted its stake in shares of UiPath by 2.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 29,121 shares of the healthcare company’s stock valued at $498,000 after purchasing an additional 740 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $21.66, for a total transaction of $866,400.00. Following the completion of the sale, the chief financial officer now owns 660,762 shares in the company, valued at approximately $14,312,104.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 31.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PATH shares. Evercore ISI boosted their target price on shares of UiPath from $24.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, March 14th. Truist Financial restated a “buy” rating and set a $32.00 target price on shares of UiPath in a research report on Wednesday, March 20th. Morgan Stanley lifted their target price on UiPath from $17.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Canaccord Genuity Group boosted their price target on UiPath from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Scotiabank raised their price objective on shares of UiPath from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.41.

UiPath Price Performance

Shares of PATH stock opened at $20.01 on Wednesday. UiPath Inc. has a one year low of $12.89 and a one year high of $27.87. The firm has a 50-day moving average of $21.67 and a 200-day moving average of $21.75. The company has a market cap of $11.39 billion, a P/E ratio of -117.71 and a beta of 1.01.

UiPath (NYSE:PATH) last released its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. The company had revenue of $405.25 million for the quarter, compared to analysts’ expectations of $383.32 million. As a group, research analysts expect that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

UiPath Company 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.