Principal Financial Group Inc. Has $10.60 Million Position in UiPath, Inc. $PATH

Principal Financial Group Inc. raised its stake in UiPath, Inc. (NYSE:PATH) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 955,157 shares of the company’s stock after buying an additional 50,057 shares during the period. Principal Financial Group Inc.’s holdings in UiPath were worth $10,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. HighMark Wealth Management LLC acquired a new stake in shares of UiPath in the fourth quarter valued at about $25,000. Raleigh Capital Management Inc. acquired a new position in shares of UiPath in the fourth quarter worth approximately $26,000. TD Waterhouse Canada Inc. lifted its stake in shares of UiPath by 1,270.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company’s stock worth $29,000 after acquiring an additional 1,652 shares during the period. Atlas Capital Advisors Inc. bought a new stake in UiPath in the fourth quarter valued at approximately $37,000. Finally, AdvisorNet Financial Inc boosted its holdings in UiPath by 750.0% in the first quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company’s stock valued at $38,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Price Performance

Shares of UiPath stock opened at $10.85 on Friday. The stock’s 50-day moving average is $11.15 and its 200 day moving average is $11.67. UiPath, Inc. has a one year low of $9.20 and a one year high of $19.84. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.30 and a beta of 0.98.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The business had revenue of $418.38 million during the quarter, compared to the consensus estimate of $397.54 million. During the same period in the previous year, the company posted $0.11 earnings per share. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, sell-side analysts expect that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PATH. Bank of America increased their target price on shares of UiPath from $12.00 to $13.00 and gave the company an “underperform” rating in a research report on Friday, May 29th. New Street Research set a $13.00 price target on shares of UiPath in a research report on Monday, June 1st. Wall Street Zen lowered shares of UiPath from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. UBS Group decreased their price objective on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of UiPath in a research note on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.80.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.