Principal Financial Group Inc. Has $470,000 Holdings in UiPath Inc. (NYSE:PATH)

Principal Financial Group Inc. increased its stake in UiPath Inc. (NYSE:PATH) by 10.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 36,685 shares of the company’s stock after purchasing an additional 3,477 shares during the quarter. Principal Financial Group Inc.’s holdings in UiPath were worth $470,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new stake in UiPath in the third quarter valued at $26,000. JTC Employer Solutions Trustee Ltd bought a new stake in UiPath in the 3rd quarter valued at about $26,000. Hantz Financial Services Inc. acquired a new position in UiPath during the 2nd quarter worth approximately $28,000. Redwood Wealth Management Group LLC bought a new position in UiPath in the second quarter worth approximately $43,000. Finally, Allspring Global Investments Holdings LLC grew its stake in UiPath by 124.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after acquiring an additional 2,274 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PATH. Bank of America upped their price objective on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. BMO Capital Markets raised their target price on UiPath from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research report on Friday, September 6th. TD Cowen lowered their price objective on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Barclays increased their target price on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.47.

UiPath Stock Performance

Shares of NYSE PATH opened at $14.24 on Monday. The stock has a fifty day moving average of $12.71 and a 200-day moving average of $13.11. The stock has a market cap of $7.83 billion, a PE ratio of -71.20 and a beta of 0.87. UiPath Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $27.87.

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

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the sale, the chief financial officer now owns 849,917 shares in the company, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 22.37% of the company’s stock.

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.