California Public Employees Retirement System Purchases 78,459 Shares of UiPath Inc. (NYSE:PATH)

California Public Employees Retirement System grew its position in shares of UiPath Inc. (NYSE:PATH) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 641,825 shares of the healthcare company’s stock after buying an additional 78,459 shares during the period. California Public Employees Retirement System owned approximately 0.11% of UiPath worth $15,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HighMark Wealth Management LLC bought a new position in UiPath during the fourth quarter worth about $27,000. Fifth Third Bancorp boosted its stake in shares of UiPath by 2,005.3% in the third quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after buying an additional 1,905 shares during the period. FNY Investment Advisers LLC bought a new position in UiPath during the 4th quarter worth $40,000. FSC Wealth Advisors LLC bought a new stake in shares of UiPath during the 4th quarter valued at $43,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of UiPath during the 4th quarter worth $50,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 16,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.84, for a total transaction of $365,440.00. Following the transaction, the chief financial officer now owns 87,505 shares in the company, valued at $1,998,614.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 72,000 shares of company stock worth $1,591,360. 31.03% of the stock is currently owned by company insiders.

UiPath Trading Up 1.6 %

PATH opened at $19.77 on Tuesday. The company has a fifty day moving average of $22.08 and a 200-day moving average of $21.64. UiPath Inc. has a twelve month low of $12.38 and a twelve month high of $27.87.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.10. The firm had revenue of $405.25 million for the quarter, compared to analyst estimates of $383.32 million. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. As a group, analysts forecast that UiPath Inc. will post -0.04 EPS for the current year.

Analyst Upgrades and Downgrades

PATH has been the topic of a number of analyst reports. Barclays increased their price objective on shares of UiPath from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. raised UiPath from a “neutral” rating to an “overweight” rating and raised their target price for the company from $22.00 to $28.00 in a report on Thursday, March 14th. William Blair assumed coverage on UiPath in a research report on Tuesday, January 2nd. They set an “outperform” rating for the company. Truist Financial reissued a “buy” rating and set a $32.00 target price on shares of UiPath in a research note on Wednesday, March 20th. Finally, TD Cowen lifted their price target on shares of UiPath from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, UiPath currently has an average rating of “Moderate Buy” and an average price target of $27.41.

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.