Mitsubishi UFJ Asset Management Co. Ltd. Increases Holdings in UiPath, Inc. (NYSE:PATH)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of UiPath, Inc. (NYSE:PATH) by 62.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,871 shares of the company’s stock after buying an additional 32,013 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in UiPath were worth $854,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PATH. Versant Capital Management Inc raised its position in UiPath by 198.6% in the first quarter. Versant Capital Management Inc now owns 2,962 shares of the company’s stock valued at $31,000 after purchasing an additional 1,970 shares during the period. CX Institutional purchased a new stake in UiPath in the first quarter valued at $36,000. True Wealth Design LLC raised its position in UiPath by 18.4% in the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after purchasing an additional 801 shares during the period. MRP Capital Investments LLC purchased a new stake in UiPath in the first quarter valued at $82,000. Finally, Meeder Advisory Services Inc. purchased a new stake in UiPath in the first quarter valued at $105,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PATH. Morgan Stanley lifted their target price on UiPath from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, June 2nd. Barclays reaffirmed an “equal weight” rating on shares of UiPath in a research note on Friday, May 30th. Scotiabank lifted their price objective on UiPath from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Friday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Friday, May 30th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of UiPath in a research note on Friday, May 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.83.

UiPath Price Performance

PATH opened at $10.99 on Thursday. UiPath, Inc. has a 12 month low of $9.38 and a 12 month high of $15.93. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of -91.58, a PEG ratio of 13.76 and a beta of 1.03. The business has a fifty day moving average price of $12.31 and a 200 day moving average price of $12.24.

UiPath (NYSE:PATH) last released its earnings results on Thursday, May 29th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. UiPath had a negative return on equity of 3.05% and a negative net margin of 4.65%. The firm had revenue of $356.62 million during the quarter, compared to analysts’ expectations of $332.17 million. During the same period in the previous year, the firm posted $0.13 EPS. UiPath’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, research analysts anticipate that UiPath, Inc. will post -0.17 earnings per share for the current year.

Insider Transactions at UiPath

In other UiPath news, CEO Daniel Dines sold 9,988 shares of UiPath stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $12.00, for a total transaction of $119,856.00. Following the completion of the sale, the chief executive officer directly owned 4,598,388 shares of the company’s stock, valued at $55,180,656. The trade was a 0.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 831,310 shares of company stock worth $10,428,922. 23.19% of the stock is owned by insiders.

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.