Alps Advisors Inc. Invests $386,000 in iRobot Co. (IRBT)

Alps Advisors Inc. acquired a new position in iRobot Co. (NASDAQ:IRBT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,031 shares of the industrial products company’s stock, valued at approximately $386,000.

A number of other hedge funds also recently made changes to their positions in the business. Scout Investments Inc. raised its position in iRobot by 1.2% in the second quarter. Scout Investments Inc. now owns 57,513 shares of the industrial products company’s stock worth $4,358,000 after acquiring an additional 688 shares during the period. Raymond James & Associates raised its position in iRobot by 6.0% in the fourth quarter. Raymond James & Associates now owns 17,513 shares of the industrial products company’s stock worth $1,343,000 after acquiring an additional 992 shares during the period. Swiss National Bank raised its position in iRobot by 2.5% in the first quarter. Swiss National Bank now owns 48,300 shares of the industrial products company’s stock worth $3,100,000 after acquiring an additional 1,200 shares during the period. Xact Kapitalforvaltning AB raised its position in iRobot by 45.1% in the first quarter. Xact Kapitalforvaltning AB now owns 3,858 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 1,200 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in iRobot by 21.5% in the first quarter. Commonwealth Equity Services LLC now owns 7,097 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 1,254 shares during the period. 83.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ IRBT traded down $2.81 during midday trading on Friday, hitting $113.50. The company’s stock had a trading volume of 595,300 shares, compared to its average volume of 966,390. iRobot Co. has a one year low of $55.77 and a one year high of $118.75. The firm has a market cap of $3.23 billion, a P/E ratio of 64.12, a price-to-earnings-growth ratio of 2.49 and a beta of 1.32.

iRobot (NASDAQ:IRBT) last posted its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.20. The company had revenue of $226.30 million for the quarter, compared to analyst estimates of $219.71 million. iRobot had a net margin of 5.90% and a return on equity of 13.27%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. equities research analysts expect that iRobot Co. will post 2.43 earnings per share for the current fiscal year.

In related news, Director Andrew Miller sold 636 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $69.41, for a total transaction of $44,144.76. Following the completion of the transaction, the director now owns 6,538 shares of the company’s stock, valued at $453,802.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Colin M. Angle sold 13,334 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,000,050.00. Following the transaction, the chief executive officer now directly owns 499,173 shares of the company’s stock, valued at approximately $37,437,975. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,178 shares of company stock valued at $7,203,632. 4.49% of the stock is owned by corporate insiders.

Several brokerages have commented on IRBT. BidaskClub raised shares of iRobot from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of iRobot in a research report on Thursday, July 5th. ValuEngine raised shares of iRobot from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. Raymond James lowered shares of iRobot from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. They noted that the move was a valuation call. Finally, Canaccord Genuity reissued a “hold” rating and issued a $80.00 price target on shares of iRobot in a research report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $74.00.

About iRobot

iRobot Corporation designs, builds, and sells robots for the consumer market worldwide. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; and Mirra Pool Cleaning Robot to clean residential pools and removes debris as small as two microns from pool floors, walls, and stair.

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Institutional Ownership by Quarter for iRobot (NASDAQ:IRBT)

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