State of New Jersey Common Pension Fund D Raises Holdings in UiPath Inc. (NYSE:PATH)

State of New Jersey Common Pension Fund D grew its holdings in UiPath Inc. (NYSE:PATH) by 3.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 231,613 shares of the healthcare company’s stock after acquiring an additional 7,918 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in UiPath were worth $5,753,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HighMark Wealth Management LLC purchased a new stake in shares of UiPath in the fourth quarter valued at approximately $27,000. Fifth Third Bancorp boosted its stake in UiPath by 2,005.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after purchasing an additional 1,905 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of UiPath during the 4th quarter worth $36,000. FNY Investment Advisers LLC purchased a new stake in shares of UiPath in the fourth quarter valued at $40,000. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of UiPath during the fourth quarter worth $43,000. 62.50% of the stock is owned by institutional investors and hedge funds.

UiPath Price Performance

Shares of NYSE:PATH traded up $0.05 during midday trading on Friday, reaching $19.46. 4,678,454 shares of the company’s stock were exchanged, compared to its average volume of 8,702,565. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of -114.70 and a beta of 0.96. The firm’s 50 day simple moving average is $22.30 and its two-hundred day simple moving average is $21.53. UiPath Inc. has a fifty-two week low of $12.38 and a fifty-two week high of $27.87.

UiPath (NYSE:PATH) last posted its earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.10. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. The firm had revenue of $405.25 million during the quarter, compared to analysts’ expectations of $383.32 million. Equities research analysts predict that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $21.66, for a total value of $866,400.00. Following the transaction, the chief financial officer now directly owns 660,762 shares of the company’s stock, valued at approximately $14,312,104.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 72,000 shares of company stock worth $1,591,360. 31.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PATH has been the topic of several recent research reports. Wells Fargo & Company raised their target price on UiPath from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. BMO Capital Markets raised their price target on shares of UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. upgraded shares of UiPath from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $22.00 to $28.00 in a research note on Thursday, March 14th. William Blair started coverage on shares of UiPath in a research note on Tuesday, January 2nd. They set an “outperform” rating for the company. Finally, DA Davidson raised their price target on shares of UiPath from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, UiPath has a consensus rating of “Moderate Buy” and an average price target of $27.41.

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.