Smith Group Asset Management LLC Buys Shares of 9,020 UiPath Inc. (NYSE:PATH)

Smith Group Asset Management LLC purchased a new position in shares of UiPath Inc. (NYSE:PATH) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,020 shares of the healthcare company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PATH. Mark Sheptoff Financial Planning LLC bought a new stake in shares of UiPath during the 4th quarter worth about $25,000. HighMark Wealth Management LLC bought a new stake in shares of UiPath during the 4th quarter worth about $27,000. Cypress Capital Management LLC WY bought a new stake in shares of UiPath in the 4th quarter worth approximately $29,000. GAMMA Investing LLC bought a new stake in shares of UiPath in the 4th quarter worth approximately $36,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of UiPath in the 4th quarter worth approximately $40,000. 62.50% of the stock is currently owned by institutional investors.

UiPath Price Performance

PATH traded up $0.28 on Friday, reaching $13.24. 7,620,131 shares of the company traded hands, compared to its average volume of 10,134,202. The stock’s 50 day moving average price is $15.54 and its 200-day moving average price is $20.38. UiPath Inc. has a 52-week low of $11.07 and a 52-week high of $27.87. The company has a market cap of $7.58 billion, a price-to-earnings ratio of -82.81 and a beta of 0.86.

UiPath (NYSE:PATH) last announced its quarterly earnings data on Wednesday, May 29th. The healthcare company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $335.11 million for the quarter, compared to the consensus estimate of $332.84 million. UiPath had a negative net margin of 6.41% and a negative return on equity of 2.97%. As a group, equities research analysts forecast that UiPath Inc. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Mizuho dropped their target price on shares of UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. DA Davidson dropped their target price on shares of UiPath from $24.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Macquarie downgraded shares of UiPath from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $12.00 in a report on Monday, June 3rd. Evercore ISI dropped their target price on shares of UiPath from $27.00 to $13.00 and set an “in-line” rating on the stock in a report on Thursday, May 30th. Finally, Barclays dropped their target price on shares of UiPath from $25.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, UiPath has a consensus rating of “Hold” and an average price target of $18.06.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $19.79, for a total value of $791,600.00. Following the completion of the sale, the chief financial officer now directly owns 946,848 shares of the company’s stock, valued at $18,738,121.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.37% of the company’s stock.

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.