SteelPeak Wealth LLC Buys 10,754 Shares of UiPath Inc. (NYSE:PATH)

SteelPeak Wealth LLC grew its holdings in UiPath Inc. (NYSE:PATH) by 47.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,346 shares of the healthcare company’s stock after acquiring an additional 10,754 shares during the quarter. SteelPeak Wealth LLC’s holdings in UiPath were worth $423,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. 180 Wealth Advisors LLC boosted its position in UiPath by 117.6% during the second quarter. 180 Wealth Advisors LLC now owns 440,872 shares of the healthcare company’s stock valued at $5,445,000 after purchasing an additional 238,235 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of UiPath by 126.8% in the second quarter. AdvisorNet Financial Inc now owns 16,100 shares of the healthcare company’s stock valued at $204,000 after buying an additional 9,000 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of UiPath in the second quarter valued at approximately $75,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of UiPath by 18.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,034 shares of the healthcare company’s stock valued at $457,000 after buying an additional 5,555 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of UiPath by 30.5% in the second quarter. Diversified Trust Co now owns 31,815 shares of the healthcare company’s stock valued at $403,000 after buying an additional 7,429 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

UiPath Stock Down 0.5 %

Shares of PATH traded down $0.06 during midday trading on Friday, hitting $11.73. The company’s stock had a trading volume of 259,178 shares, compared to its average volume of 9,790,270. UiPath Inc. has a one year low of $10.37 and a one year high of $27.87. The company’s fifty day simple moving average is $12.00 and its two-hundred day simple moving average is $18.04. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of -73.75 and a beta of 0.86.

UiPath (NYSE:PATH) last released its quarterly earnings data on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share 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 company had revenue of $335.11 million for the quarter, compared to the consensus estimate of $332.84 million. On average, research analysts predict that UiPath Inc. will post -0.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PATH. Bank of America reiterated a “neutral” rating and set a $16.00 target price (down previously from $30.00) on shares of UiPath in a research note on Thursday, May 30th. Barclays lowered their target price on UiPath from $25.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. KeyCorp reiterated a “sector weight” rating on shares of UiPath in a research note on Thursday, May 30th. Morgan Stanley lowered their price objective on UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Finally, Evercore ISI lowered their price objective on UiPath from $27.00 to $13.00 and set an “in-line” rating on the stock in a research note on Thursday, May 30th. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.06.

About UiPath

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.