BlackRock Inc. Grows Holdings in iRobot Corporation (IRBT)
BlackRock Inc. raised its stake in iRobot Corporation (NASDAQ:IRBT) by 13.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,751,472 shares of the industrial products company’s stock after buying an additional 448,157 shares during the quarter. BlackRock Inc. owned 13.63% of iRobot Corporation worth $315,648,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Creative Planning boosted its stake in shares of iRobot Corporation by 14.0% during the 2nd quarter. Creative Planning now owns 1,317 shares of the industrial products company’s stock valued at $111,000 after buying an additional 162 shares during the period. Riverhead Capital Management LLC grew its holdings in shares of iRobot Corporation by 66.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,665 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 665 shares in the last quarter. FNY Partners Fund LP purchased a new position in shares of iRobot Corporation during the 2nd quarter valued at $143,000. NEXT Financial Group Inc grew its holdings in shares of iRobot Corporation by 6.2% during the 2nd quarter. NEXT Financial Group Inc now owns 1,890 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 110 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of iRobot Corporation by 16.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 82.73% of the company’s stock.
In other news, EVP Glen Daniel Weinstein sold 728 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $100.00, for a total transaction of $72,800.00. Following the completion of the sale, the executive vice president now owns 68,355 shares of the company’s stock, valued at approximately $6,835,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Colin M. Angle sold 5,886 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $106.20, for a total transaction of $625,093.20. Following the sale, the chief executive officer now directly owns 489,463 shares of the company’s stock, valued at approximately $51,980,970.60. The disclosure for this sale can be found here. Insiders sold a total of 106,675 shares of company stock worth $10,315,539 in the last quarter. Company insiders own 4.49% of the company’s stock.
iRobot Corporation (NASDAQ IRBT) opened at 77.06 on Monday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 37.79 and a beta of 1.19. The stock has a 50 day moving average of $96.07 and a 200-day moving average of $85.36. iRobot Corporation has a 52-week low of $42.06 and a 52-week high of $109.78.
iRobot Corporation (NASDAQ:IRBT) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.55. iRobot Corporation had a net margin of 7.84% and a return on equity of 14.05%. The firm had revenue of $183.14 million during the quarter, compared to analyst estimates of $174.65 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, analysts forecast that iRobot Corporation will post $1.60 EPS for the current year.
A number of research firms have recently weighed in on IRBT. SprucePoint Capital reaffirmed a “sell” rating on shares of iRobot Corporation in a research note on Thursday, September 14th. BidaskClub downgraded iRobot Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research lowered iRobot Corporation from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 31st. Canaccord Genuity raised their price target on iRobot Corporation from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Finally, Piper Jaffray Companies lifted their price target on iRobot Corporation to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $73.63.
iRobot Corporation Company Profile
iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home.
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