Vestmark Advisory Solutions Inc. Invests $15.54 Million in UiPath Inc. (NYSE:PATH)

Vestmark Advisory Solutions Inc. purchased a new position in shares of UiPath Inc. (NYSE:PATH) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 625,740 shares of the healthcare company’s stock, valued at approximately $15,543,000. UiPath makes up about 0.8% of Vestmark Advisory Solutions Inc.’s holdings, making the stock its 27th biggest holding. Vestmark Advisory Solutions Inc. owned approximately 0.11% of UiPath at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PATH. HighMark Wealth Management LLC purchased a new stake in shares of UiPath during the fourth quarter worth about $27,000. Cypress Capital Management LLC WY purchased a new stake in UiPath in the fourth quarter valued at approximately $29,000. Fifth Third Bancorp grew its holdings in UiPath by 2,005.3% in the third quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after purchasing an additional 1,905 shares during the period. GAMMA Investing LLC purchased a new stake in UiPath in the fourth quarter valued at approximately $36,000. Finally, FNY Investment Advisers LLC purchased a new stake in UiPath in the fourth quarter valued at approximately $40,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ashim Gupta sold 16,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.84, for a total transaction of $365,440.00. Following the completion of the transaction, the chief financial officer now owns 87,505 shares in the company, valued at approximately $1,998,614.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 72,000 shares of company stock worth $1,591,360. Corporate insiders own 31.03% of the company’s stock.

UiPath Stock Up 0.9 %

UiPath stock traded up $0.18 during trading hours on Friday, hitting $19.48. 3,862,423 shares of the company traded hands, compared to its average volume of 5,757,008. The firm has a market cap of $11.08 billion, a P/E ratio of -114.58 and a beta of 1.01. The firm’s 50-day simple moving average is $21.75 and its two-hundred day simple moving average is $21.65. UiPath Inc. has a 1-year low of $12.38 and a 1-year high of $27.87.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Truist Financial restated a “buy” rating and issued a $32.00 target price on shares of UiPath in a report on Wednesday, March 20th. TD Cowen upped their price target on shares of UiPath from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of UiPath in a research note on Wednesday, March 20th. Morgan Stanley upped their price target on shares of UiPath from $17.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, Wells Fargo & Company upped their price target on shares of UiPath from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.41.

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.