Nations Financial Group Inc. IA ADV Makes New Investment in UiPath Inc. (NYSE:PATH)

Nations Financial Group Inc. IA ADV acquired a new stake in UiPath Inc. (NYSE:PATH) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 24,436 shares of the healthcare company’s stock, valued at approximately $310,000.

Several other large investors have also made changes to their positions in PATH. Norges Bank acquired a new stake in shares of UiPath in the fourth quarter worth approximately $165,749,000. Vanguard Group Inc. raised its position in shares of UiPath by 5.6% in the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after buying an additional 2,133,078 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of UiPath in the fourth quarter worth about $48,267,000. Vestmark Advisory Solutions Inc. acquired a new position in UiPath during the fourth quarter worth about $15,543,000. Finally, First Trust Advisors LP raised its holdings in UiPath by 122.6% in the 4th quarter. First Trust Advisors LP now owns 1,132,984 shares of the healthcare company’s stock valued at $28,143,000 after acquiring an additional 624,003 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

UiPath Trading Up 0.4 %

PATH stock traded up $0.05 on Friday, hitting $12.89. The company’s stock had a trading volume of 32,705,536 shares, compared to its average volume of 9,834,450. UiPath Inc. has a 1 year low of $10.37 and a 1 year high of $27.87. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of -80.50 and a beta of 0.86. The firm has a 50 day moving average of $12.16 and a two-hundred day moving average of $17.25.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The firm had revenue of $335.11 million for the quarter, compared to analysts’ expectations of $332.84 million. As a group, equities analysts forecast that UiPath Inc. will post -0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PATH has been the subject of several recent research reports. Barclays cut their price target on UiPath from $16.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Canaccord Genuity Group lowered their price objective on UiPath from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Scotiabank decreased their price target on UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 29th. Finally, Macquarie cut shares of UiPath from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $12.00 in a research report on Monday, June 3rd. 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, the company has an average rating of “Hold” and a consensus target price of $17.94.

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.