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

State of New Jersey Common Pension Fund D boosted its stake in shares of UiPath Inc. (NYSE:PATH) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,083 shares of the healthcare company’s stock after purchasing an additional 11,810 shares during the period. State of New Jersey Common Pension Fund D’s holdings in UiPath were worth $2,292,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after buying an additional 2,133,078 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of UiPath during the 2nd quarter valued at approximately $69,180,000. Dimensional Fund Advisors LP boosted its stake in UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock valued at $35,296,000 after acquiring an additional 754,519 shares during the last quarter. Bank of New York Mellon Corp grew its stake in UiPath by 20.8% in the second quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the healthcare company’s stock worth $32,371,000 after purchasing an additional 439,344 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of UiPath by 120.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company’s stock worth $20,385,000 after acquiring an additional 892,845 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PATH shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price target on shares of UiPath in a report on Friday, September 6th. Evercore ISI raised their price target on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. DA Davidson boosted their target price on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price target on UiPath from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.47.

UiPath Price Performance

Shares of UiPath stock opened at $13.52 on Thursday. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of -67.60 and a beta of 0.87. The stock has a 50-day simple moving average of $12.60 and a 200-day simple moving average of $13.48. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The firm had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $303.69 million. During the same period in the prior year, the company posted ($0.09) earnings per share. UiPath’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that UiPath Inc. will post -0.23 earnings per share for the current year.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 22.37% of the stock is currently owned by corporate insiders.

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.