5 Cathie Wood Stocks to Buy Before the Bull Run Starts

4. UiPath Inc. (NYSE:PATH)

Number of Hedge Fund Holders: 24

UiPath Inc. (NYSE:PATH) is a New York-based company that offers an end-to-end automation platform with a range of robotic process automation solutions. UiPath Inc. (NYSE:PATH) stock has plunged more than 55% year to date as of August 17. Cathie Wood boosted her stake in UiPath Inc. (NYSE:PATH) by 12% in Q2 2022, holding 37.6 million shares worth $641.75 million, representing 3.79% of the total 13F holdings. 

Canaccord analyst Kingsley Crane on July 7 initiated coverage of UiPath Inc. (NYSE:PATH) with a Buy rating and a $25 price target. He is bullish on UiPath Inc. (NYSE:PATH)’s ability to leverage automation in a large set of use cases and expects partners like EY and PwC to lend it “critical sales leverage,” the analyst told investors.

According to Insider Monkey’s Q2 data, 24 hedge funds were bullish on UiPath Inc. (NYSE:PATH), with combined stakes worth $1.26 billion. Alkeon Capital Management held a sizable stake in the company, comprising 15.4 million shares valued at $281.6 million. 

Here is what ClearBridge Investments has to say about UiPath Inc. (NASDAQ:PATH) in its Q2 2021 investor letter:

“We participated in the IPO of UiPath, a developer of software for robotic process automation that uses AI, natural language processing and design to streamline complex processes across a variety of technology environments. The company is an industry leader with a superior solution for leveraging software to optimize workloads. Organizations around the world are beginning to understand the power of automation, with momentum picking up toward fully automating business processes, a $60 billion market today that could grow to $200 billion or more by 2030. UiPath has a unique pricing model, broad partner ecosystem and thoughtful management team supporting one of the strongest growth profiles in technology. Risks we are watching include a partial cloud transition ahead and increased competition from larger software platforms over time.”