Swiss National Bank Makes New $21.23 Million Investment in UiPath Inc. (NYSE:PATH)

Swiss National Bank bought a new stake in shares of UiPath Inc. (NYSE:PATH) in the second quarter, HoldingsChannel.com reports. The firm bought 1,281,100 shares of the healthcare company’s stock, valued at approximately $21,228,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PATH. Altimeter Capital Management LP boosted its holdings in shares of UiPath by 175.4% in the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock worth $71,579,000 after buying an additional 5,270,194 shares during the last quarter. Millennium Management LLC raised its position in UiPath by 899.5% in the fourth quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company’s stock worth $51,475,000 after acquiring an additional 3,644,799 shares during the period. State Street Corp boosted its stake in shares of UiPath by 251.1% during the 2nd quarter. State Street Corp now owns 4,996,369 shares of the healthcare company’s stock worth $90,884,000 after acquiring an additional 3,573,238 shares during the last quarter. ARK Investment Management LLC grew its position in shares of UiPath by 7.5% during the 2nd quarter. ARK Investment Management LLC now owns 48,280,787 shares of the healthcare company’s stock valued at $800,013,000 after acquiring an additional 3,388,821 shares during the period. Finally, Norges Bank purchased a new stake in shares of UiPath in the 4th quarter worth $42,215,000. 59.04% of the stock is owned by institutional investors.

UiPath Trading Up 1.5 %

Shares of UiPath stock opened at $18.27 on Monday. The firm has a market cap of $10.35 billion, a PE ratio of -57.09 and a beta of 0.60. The stock has a 50 day moving average of $16.72 and a 200 day moving average of $16.53. UiPath Inc. has a 12 month low of $10.98 and a 12 month high of $19.94.

UiPath (NYSE:PATH) last posted its earnings results on Wednesday, September 6th. The healthcare company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. UiPath had a negative return on equity of 7.49% and a negative net margin of 15.47%. The firm had revenue of $287.31 million during the quarter, compared to the consensus estimate of $281.48 million. During the same period in the prior year, the company earned ($0.18) EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, equities research analysts forecast that UiPath Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at UiPath

In related news, Director Rich Wong sold 100,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $18.07, for a total value of $1,807,000.00. Following the completion of the transaction, the director now owns 756,599 shares of the company’s stock, valued at approximately $13,671,743.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $16.10, for a total transaction of $644,000.00. Following the transaction, the chief financial officer now owns 1,143,754 shares in the company, valued at $18,414,439.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rich Wong sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $18.07, for a total transaction of $1,807,000.00. Following the completion of the sale, the director now owns 756,599 shares of the company’s stock, valued at approximately $13,671,743.93. The disclosure for this sale can be found here. Insiders have sold a total of 280,000 shares of company stock worth $4,784,200 in the last three months. Insiders own 31.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of UiPath in a report on Wednesday, October 11th. BMO Capital Markets boosted their price objective on UiPath from $18.00 to $19.00 and gave the company a “market perform” rating in a research note on Thursday, September 7th. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 target price on shares of UiPath in a research note on Thursday, September 28th. Barclays lifted their price target on shares of UiPath from $16.00 to $18.00 in a report on Thursday, September 7th. Finally, Canaccord Genuity Group raised their price objective on shares of UiPath from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, September 7th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.84.

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