5 Biggest Losers in Cathie Wood’s Latest Portfolio

In this article, we talk about the 5 biggest losers in Cathie Wood’s latest portfolio. If you want to read our detailed analysis of Wood’s hedge fund performance, history and stock selection, go directly to 10 Biggest Losers in Cathie Wood’s Latest Portfolio.

5. UiPath Inc. (NYSE:PATH)

ARK Investment Management’s 13 Portfolio: 3.02%

ARK Investment Management’s Stake Value: $725.44 million

Number of Hedge Fund Holders: 28

Year-To-Date Share Price Loss : 61.36%

UiPath Inc. (NYSE:PATH) ranks next on the list of the biggest losers in Cathie Wood’s portfolio. The stock has tanked 61.4% in the year to date, and 75.07% in the last 12 months. The firm deals in the development of a software platform which automates business processes, and is used by the telecommunication, healthcare, finance, and banking industries around the globe.

Cathie Wood’s stake in the firm at the close of the first quarter of 2022 consisted of 33.6 million shares worth $725 million, representing 3.02% of her overall portfolio. Out of all the hedge funds tracked by Insider Monkey, 28 reported owning positions in UiPath Inc. (NYSE:PATH) at the end of Q4 2021. This is in contrast to 27 hedge funds with stakes in the firm a quarter ago.

On March 31, RBC Capital analyst Matthew Hedberg lowered the firm’s price target on UiPath Inc. (NYSE:PATH) to $32 from $37, and maintained a ‘Sector Perform’ rating on the company shares. The analyst sees the firm well positioned for the sizeable opportunity around automation in the long term, but sees macro uncertainty and management changes impacting its initial FY23 outlook.