Principal Financial Group Inc. Acquires 50,057 Shares of UiPath, Inc. $PATH

Principal Financial Group Inc. raised its holdings in UiPath, Inc. (NYSE:PATH) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 955,157 shares of the company’s stock after purchasing an additional 50,057 shares during the quarter. Principal Financial Group Inc. owned 0.18% of UiPath worth $10,602,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PATH. Vanguard Group Inc. boosted its stake in UiPath by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company’s stock valued at $804,994,000 after buying an additional 1,219,057 shares in the last quarter. State Street Corp lifted its holdings in shares of UiPath by 66.4% in the fourth quarter. State Street Corp now owns 13,004,786 shares of the company’s stock worth $213,148,000 after acquiring an additional 5,189,438 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of UiPath by 76.0% in the second quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after acquiring an additional 4,926,341 shares during the last quarter. Morgan Stanley lifted its holdings in shares of UiPath by 54.0% in the fourth quarter. Morgan Stanley now owns 9,310,304 shares of the company’s stock worth $152,596,000 after acquiring an additional 3,262,930 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of UiPath by 25.6% in the 4th quarter. Geode Capital Management LLC now owns 7,499,989 shares of the company’s stock valued at $122,951,000 after purchasing an additional 1,528,454 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Trading Up 6.3%

NYSE:PATH 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 1-year low of $9.20 and a 1-year high of $19.84. The stock has a market cap of $5.62 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The business had revenue of $418.38 million during the quarter, compared to analyst estimates of $397.54 million. During the same quarter last year, the business earned $0.11 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities analysts forecast that UiPath, Inc. will post 0.4 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PATH shares. DA Davidson decreased their price target on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, May 29th. Morgan Stanley cut their target price on shares of UiPath from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, May 29th. Wall Street Zen lowered shares of UiPath from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. BMO Capital Markets decreased their target price on shares of UiPath from $14.00 to $13.00 and set a “market perform” rating on the stock in a research note on Monday, June 1st. Finally, Bank of America upped their price target on shares of UiPath from $12.00 to $13.00 and gave the stock an “underperform” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, UiPath presently has an average rating of “Hold” and a consensus target price of $13.80.

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. 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.