Cathie Wood’s Stock Portfolio: Top 5 2024 Stock Picks

2. UiPath Inc. (NYSE:PATH)

Number of Hedge Fund Investors: 38

Ark Investment’s Q4 2023 Investment Value: $1.079 billion

UiPath Inc. (NYSE:PATH) is an international software company specializing in robotic process automation (RPA) software. Established in Bucharest, Romania, it was founded by Daniel Dines and Marius Tîrcă.

Scotia Bank initiated coverage of the robotics automation software company earlier in February. UiPath Inc. (NYSE:PATH) has evolved into a “full-fledged platform for enterprise-level automation,” analysts Nick Altmann and Patrick Colville wrote in a note to clients, allowing it to expand its total addressable market and gain wallet share from existing customers. Altmann and Colville put a Sector Perform rating and $29 price target on UiPath Inc. (NYSE:PATH) shares.

During 2023’s December quarter, 38 out of the 933 hedge funds covered by Insider Monkey were UiPath Inc. (NYSE:PATH)’s investors. Cathie Wood maintained her position as the firm’s biggest investor with an $1.07 billion stake.