5 Best ARK Stocks To Buy Now

2. UiPath Inc. (NYSE:PATH)

Number of Shares Owned by ARK: 47,326,276

Stake Value: $809,752,591

Number of Hedge Fund Holders: 28

UiPath Inc. (NYSE:PATH) ranks 2nd in our list of the best ARK stocks to buy now. Cathie Wood’s hedge owns an $810 million stake in UiPath Inc. (NYSE:PATH).

ClearBridge Investments made the following comment about UiPath Inc. (NYSE:PATH) in its Q3 2022 investor letter:

“Over the last three months, we similarly exited UiPath Inc. (NYSE:PATH) due to a change to our original thesis as we believe a new go-to-market strategy for its automation software could impact near-term execution. While we think process automation is a growing market, in a slowing macro environment single solutions may be more vulnerable than the platform solutions of software providers who can bundle products to meet a wide range of needs. In addition, the company has a material component of sales sourced in Europe where the economy is more vulnerable.”