ARK Investment Management LLC Has $268.16 Million Stock Position in UiPath Inc. (NYSE:PATH)

ARK Investment Management LLC lowered its stake in shares of UiPath Inc. (NYSE:PATH - Free Report) by 29.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,949,802 shares of the healthcare company's stock after selling 8,797,635 shares during the quarter. UiPath makes up approximately 2.5% of ARK Investment Management LLC's holdings, making the stock its 10th largest position. ARK Investment Management LLC owned approximately 3.81% of UiPath worth $268,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. ORG Partners LLC raised its stake in UiPath by 875.6% during the 1st quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company's stock valued at $27,000 after acquiring an additional 1,112 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in UiPath during the 3rd quarter valued at $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in UiPath during the 3rd quarter valued at $26,000. Hantz Financial Services Inc. bought a new stake in UiPath during the 2nd quarter valued at $28,000. Finally, Advisors Asset Management Inc. raised its stake in UiPath by 35.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,037 shares of the healthcare company's stock valued at $69,000 after acquiring an additional 787 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on UiPath from $19.00 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. DA Davidson upped their price objective on UiPath from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Friday, September 6th. Barclays upped their price objective on UiPath from $14.00 to $15.00 and gave the company an "equal weight" rating in a report on Friday, September 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, September 6th. Finally, Bank of America upped their price objective on UiPath from $16.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, UiPath currently has an average rating of "Hold" and an average target price of $17.47.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the transaction, the chief financial officer now directly owns 849,917 shares of the company's stock, valued at $10,258,498.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 22.37% of the company's stock.

UiPath Stock Down 1.5 %

NYSE:PATH traded down $0.21 during trading hours on Friday, hitting $13.18. 4,773,047 shares of the company's stock traded hands, compared to its average volume of 5,791,809. UiPath Inc. has a twelve month low of $10.37 and a twelve month high of $27.87. The stock's fifty day moving average price is $12.55 and its two-hundred day moving average price is $13.68.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The firm had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. UiPath's quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that UiPath Inc. will post -0.23 earnings per share 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, 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.