ARK Investment Management LLC recently announced the acquisition of new stake in UiPath Inc. (NYSE:PATH). The institutional investor has increased its shareholding in the Technology company by 22.58% to 46.08 million shares with purchase of 8.49 million shares. This fresh investment now brings its stake to 9.87% valued currently at $582.96 million. In addition, Nikko Asset Management Co., Ltd. raised its holdings by 5.17 million to 29.19 million shares. And Nikko Asset Management Americas, has lifted its position by 22.97% or 5.26 million shares – to 28.18 million shares.
With over 6.14 million UiPath Inc. (PATH) shares trading Tuesday and a closing price of $11.77 on the day, the dollar volume was approximately $72.26 million. The shares have shown a negative half year performance of -31.05% and its price on 11/29/22 lost nearly -2.57%. Currently, there are 546.06M common shares owned by the public and among those 397.98M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for PATH have a consensus price objective of $17.45. The analysts have set the share’s price value over the next 12 months at a high of $27.50 and a low of $12.00. The average price target is 32.28% above its recent price level and an upside to the estimated low will see the stock gain 1.92% over that period. But an upside of 57.2% will see the stock hit the forecast high price target while median target price for the stock is $16.00.
Insiders at the company have transacted a total of 81 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 7,626,606 shares. Insider sales of the common stock occurred on 53 occasions, with total insider shares sold totaling 1,075,700 shares.
The top 3 mutual fund holders in UiPath Inc. are ARK Innovation ETF, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund. ARK Innovation ETF owns 27.0 million shares of the company’s stock, all valued at over $341.49 million. The company sold -0.34 million shares recently to bring their total holdings to about 5.78% of the shares outstanding. Vanguard Total Stock Market Index bought 29994.0 shares to see its total holdings expand to 9.07 million shares valued at over $114.8 million and representing 1.94% of the shares outstanding. Vanguard Mid Cap Index Fund bought 83581.0 shares to bring its total holdings to over 7.01 million shares at a value of $88.74 million. Vanguard Mid Cap Index Fund now owns shares totaling to 1.50% of the shares outstanding.
Shares of UiPath Inc. (NYSE: PATH) opened at $12.13, up $0.05 from a prior closing price of $12.08. However, the script later moved the day high at 12.26, down -2.57%. The company’s stock has a 5-day price change of -0.25% and -28.45% over the past three months. PATH shares are trading -72.71% year to date (YTD), with the 12-month market performance down to -76.22% lower. It has a 12-month low price of $10.40 and touched a high of $51.15 over the same period. PATH has an average intraday trading volume of 7.64 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.61%, -4.69%, and -38.42% respectively.
Institutional ownership of UiPath Inc. (NYSE: PATH) shares accounts for 64.60% of the company’s 546.06M shares outstanding. Mutual fund holders own 27.17%, while other institutional holders and individual stakeholders account for 30.10% and 21.65% respectively.
It has a market capitalization of $6.18B. The earnings-per-share (ttm) stands at -$0.82. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.82% over the week and 6.30% over the month.
Analysts forecast that UiPath Inc. (PATH) will achieve an EPS of -$0.05 for the current quarter, $0.05 for the next quarter and $0.05 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was $0 a year ago. Earnings per share for the fiscal year are expected to decrease by -549.60%, and 400.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate UiPath Inc. (PATH) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 12 of the 22 advise that investors “hold,” and 1 rated it as a “Sell.”
Barclays coverage for the UiPath Inc. (PATH) stock in a research note released on October 18, 2022 offered a Equal Weight rating with a price target of $15. Morgan Stanley was of a view on September 07, 2022 that the stock is Equal-Weight, while Mizuho gave the stock Neutral rating on September 07, 2022, issuing a price target of $40- $14. KeyBanc Capital Markets on their part issued Sector Weight rating on September 07, 2022.
