Spire Wealth Management Boosts Holdings in UiPath Inc. (NYSE:PATH)

Spire Wealth Management increased its stake in shares of UiPath Inc. (NYSE:PATH) by 51.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,615 shares of the healthcare company’s stock after purchasing an additional 9,021 shares during the quarter. Spire Wealth Management’s holdings in UiPath were worth $661,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of UiPath by 7.6% during the third quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock worth $645,916,000 after buying an additional 2,673,718 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in UiPath by 3,273.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,564,985 shares of the healthcare company’s stock worth $26,777,000 after acquiring an additional 1,518,592 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in shares of UiPath in the 4th quarter valued at approximately $15,543,000. FMR LLC lifted its position in shares of UiPath by 2.9% during the 3rd quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock worth $277,835,000 after purchasing an additional 463,032 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of UiPath by 179.9% during the third quarter. Los Angeles Capital Management LLC now owns 715,688 shares of the healthcare company’s stock worth $12,245,000 after purchasing an additional 459,965 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Activity

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of UiPath 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 $1,998,614.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 96,000 shares of company stock worth $2,023,440 over the last 90 days. 31.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Canaccord Genuity Group lifted their price target on UiPath from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, March 15th. 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 report on Thursday, March 14th. Wells Fargo & Company lifted their price target on shares of UiPath from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Morgan Stanley raised their price target on UiPath from $17.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, Bank of America increased their price objective on UiPath from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, UiPath currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.41.

UiPath Stock Down 2.7 %

NYSE:PATH opened at $19.37 on Friday. UiPath Inc. has a fifty-two week low of $13.30 and a fifty-two week high of $27.87. The firm’s fifty day simple moving average is $21.44 and its 200-day simple moving average is $21.75. The stock has a market cap of $11.02 billion, a PE ratio of -113.94 and a beta of 1.01.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 EPS for the quarter, topping the consensus estimate 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 business had revenue of $405.25 million for the quarter, compared to analyst estimates of $383.32 million. Equities analysts anticipate that UiPath Inc. will post -0.04 earnings per share for the current year.

UiPath 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.