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

Spire Wealth Management raised its holdings in UiPath Inc. (NYSE:PATH) by 2,400.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the healthcare company’s stock after purchasing an additional 4,800 shares during the period. Spire Wealth Management’s holdings in UiPath were worth $83,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PATH. Board of Trustees of The Leland Stanford Junior University bought a new stake in UiPath during the first quarter valued at approximately $2,644,000. Principal Financial Group Inc. lifted its position in UiPath by 517.0% during the first quarter. Principal Financial Group Inc. now owns 228,517 shares of the healthcare company’s stock valued at $4,013,000 after purchasing an additional 191,478 shares during the last quarter. State of Michigan Retirement System bought a new stake in UiPath during the second quarter valued at approximately $2,979,000. Canada Pension Plan Investment Board lifted its position in UiPath by 24.9% during the second quarter. Canada Pension Plan Investment Board now owns 515,000 shares of the healthcare company’s stock valued at $8,534,000 after purchasing an additional 102,800 shares during the last quarter. Finally, Bangor Savings Bank lifted its position in UiPath by 109,876.4% during the second quarter. Bangor Savings Bank now owns 60,487 shares of the healthcare company’s stock valued at $1,002,000 after purchasing an additional 60,432 shares during the last quarter. Hedge funds and other institutional investors own 59.04% of the company’s stock.

Wall Street Analyst Weigh In

PATH has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective on shares of UiPath from $18.00 to $19.00 and gave the stock a “market perform” rating in a report on Thursday, September 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price objective on shares of UiPath in a report on Thursday, September 28th. Bank of America boosted their price objective on shares of UiPath from $20.00 to $22.00 in a report on Thursday, September 7th. Barclays upped their price target on shares of UiPath from $16.00 to $18.00 in a report on Thursday, September 7th. Finally, Mizuho upped their price target on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, September 7th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.84.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $17.38, for a total value of $695,200.00. Following the transaction, the chief financial officer now owns 1,304,047 shares in the company, valued at approximately $22,664,336.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Rich Wong sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $18.07, for a total value of $1,807,000.00. Following the transaction, the director now owns 756,599 shares in the company, valued at approximately $13,671,743.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $17.38, for a total transaction of $695,200.00. Following the completion of the sale, the chief financial officer now directly owns 1,304,047 shares of the company’s stock, valued at $22,664,336.86. The disclosure for this sale can be found here. Insiders have sold 280,000 shares of company stock worth $4,784,200 in the last quarter. Company insiders own 31.03% of the company’s stock.

UiPath Stock Performance

PATH opened at $18.56 on Tuesday. The stock has a market capitalization of $10.52 billion, a P/E ratio of -57.98 and a beta of 0.60. The company’s 50-day simple moving average is $16.71 and its two-hundred day simple moving average is $16.58. UiPath Inc. has a 52-week low of $10.98 and a 52-week high of $19.94.

UiPath (NYSE:PATH) last posted its earnings results on Wednesday, September 6th. The healthcare company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $287.31 million for the quarter, compared to analysts’ expectations of $281.48 million. UiPath had a negative net margin of 15.47% and a negative return on equity of 7.49%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS. Research analysts forecast that UiPath Inc. will post -0.28 EPS for the current fiscal year.

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.