Cubist Systematic Strategies LLC Invests $2.38 Million in iRobot Corporation (IRBT)
Cubist Systematic Strategies LLC acquired a new stake in iRobot Corporation (NASDAQ:IRBT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 28,263 shares of the industrial products company’s stock, valued at approximately $2,378,000. Cubist Systematic Strategies LLC owned about 0.10% of iRobot Corporation as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in shares of iRobot Corporation by 16.5% in the second quarter. Legal & General Group Plc now owns 52,487 shares of the industrial products company’s stock valued at $4,419,000 after buying an additional 7,418 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of iRobot Corporation by 12.9% in the second quarter. Baillie Gifford & Co. now owns 746,771 shares of the industrial products company’s stock valued at $62,834,000 after buying an additional 85,124 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of iRobot Corporation by 79.9% in the second quarter. State of Alaska Department of Revenue now owns 5,414 shares of the industrial products company’s stock valued at $455,000 after buying an additional 2,404 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of iRobot Corporation in the second quarter valued at approximately $1,166,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of iRobot Corporation by 16.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the industrial products company’s stock valued at $132,000 after buying an additional 277 shares during the last quarter. 82.72% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on IRBT. SprucePoint Capital reaffirmed a “sell” rating on shares of iRobot Corporation in a research report on Thursday, September 14th. BidaskClub cut iRobot Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut iRobot Corporation from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 31st. Canaccord Genuity raised their price objective on iRobot Corporation from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Thursday, July 27th. Finally, Piper Jaffray Companies raised their price objective on iRobot Corporation to $92.00 and gave the company a “neutral” rating in a research 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 given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $73.63.
In related news, EVP Russell J. Campanello sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $85.00, for a total value of $850,000.00. Following the transaction, the executive vice president now owns 82,434 shares in the company, valued at $7,006,890. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alison Dean sold 17,646 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $90.00, for a total value of $1,588,140.00. Following the completion of the transaction, the chief financial officer now owns 82,080 shares in the company, valued at approximately $7,387,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,769 shares of company stock worth $9,728,529. 4.49% of the stock is owned by company insiders.
Shares of iRobot Corporation (IRBT) traded up 1.38% during trading on Monday, hitting $76.66. The stock had a trading volume of 147,315 shares. iRobot Corporation has a 52 week low of $42.06 and a 52 week high of $109.78. The company’s 50 day moving average price is $86.50 and its 200 day moving average price is $86.82. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 37.60 and a beta of 1.19.
iRobot Corporation (NASDAQ:IRBT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.28) by $0.55. iRobot Corporation had a return on equity of 14.05% and a net margin of 7.84%. The business had revenue of $183.14 million for the quarter, compared to the consensus estimate of $174.65 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. iRobot Corporation’s revenue for the quarter was up 23.2% on a year-over-year basis. Analysts predict that iRobot Corporation will post $1.58 earnings per share for the current year.
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iRobot Corporation 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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