Vanguard Group Inc. Purchases 2,133,078 Shares of UiPath Inc. (NYSE:PATH)

Vanguard Group Inc. boosted its position in UiPath Inc. (NYSE:PATH - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,217,936 shares of the healthcare company's stock after acquiring an additional 2,133,078 shares during the quarter. Vanguard Group Inc. owned 7.07% of UiPath worth $911,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PATH. Norges Bank bought a new position in shares of UiPath during the fourth quarter valued at about $165,749,000. Artisan Partners Limited Partnership bought a new position in shares of UiPath during the fourth quarter valued at about $48,267,000. Vestmark Advisory Solutions Inc. bought a new position in shares of UiPath during the fourth quarter valued at about $15,543,000. First Trust Advisors LP grew its stake in shares of UiPath by 122.6% during the fourth quarter. First Trust Advisors LP now owns 1,132,984 shares of the healthcare company's stock valued at $28,143,000 after buying an additional 624,003 shares during the last quarter. Finally, Trexquant Investment LP grew its stake in shares of UiPath by 303.7% during the fourth quarter. Trexquant Investment LP now owns 741,506 shares of the healthcare company's stock valued at $18,419,000 after buying an additional 557,828 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Bank of America reaffirmed a "neutral" rating and set a $16.00 price objective (down from $30.00) on shares of UiPath in a research note on Thursday, May 30th. Scotiabank cut their target price 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. Mizuho cut their target price on UiPath from $25.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, May 30th. DA Davidson cut their target price on UiPath from $24.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, May 30th. Finally, BMO Capital Markets cut their target price on UiPath from $28.00 to $14.00 and set a "market perform" rating on the stock in a research note on Monday, June 3rd. Sixteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $18.06.

UiPath Price Performance

PATH traded down $0.38 on Wednesday, hitting $11.93. The company had a trading volume of 9,710,320 shares, compared to its average volume of 9,908,147. The stock has a fifty day simple moving average of $13.62 and a 200-day simple moving average of $19.23. UiPath Inc. has a 52-week low of $11.07 and a 52-week high of $27.87. The firm has a market capitalization of $6.83 billion, a P/E ratio of -74.56 and a beta of 0.86.

UiPath (NYSE:PATH - Get Free Report) last released its 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 net margin of 6.41% and a negative return on equity of 2.97%. The firm had revenue of $335.11 million during the quarter, compared to analyst estimates of $332.84 million. Equities research analysts expect that UiPath Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $19.79, for a total transaction of $791,600.00. Following the completion of the transaction, the chief financial officer now directly owns 946,848 shares in the company, valued at $18,738,121.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.37% of the company's stock.

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.