Ark Invest Stock Portfolio: Top 5 Picks

3. UiPath Inc. (NYSE:PATH)

ARK Invest’s Stake Value: $800,012,633

Number of Hedge Fund Holders: 36

UiPath Inc. (NYSE:PATH) offers a comprehensive automation platform for robotic process automation (RPA) solutions. It provides a suite of software tools to create, control, execute, involve, assess, and regulate automation processes within an organization. UiPath Inc. (NYSE:PATH) is one of the top picks from the Cathie Wood stock portfolio. Wood owned an $800 million stake in the company during Q2 2023. 

On May 24, UiPath Inc. (NYSE:PATH) reported a Q1 non-GAAP EPS of $0.11 and a revenue of $289.59 million, outperforming Wall Street estimates by $0.09 and $18.35 million, respectively. 

According to Insider Monkey’s Q1 database, UiPath Inc. (NYSE:PATH) was found in 36 hedge fund portfolios, with combined stakes worth $1.58 billion. Alkeon Capital Management is a significant position holder in the company, with 16.5 million shares worth nearly $291 million. 

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.”