Bank of New York Mellon Corp lowered its stake in shares of iRobot Co. (NASDAQ:IRBT) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 400,292 shares of the industrial products company’s stock after selling 21,367 shares during the quarter. Bank of New York Mellon Corp owned about 1.45% of iRobot worth $33,520,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in IRBT. Russell Investments Group Ltd. lifted its stake in shares of iRobot by 100.0% in the third quarter. Russell Investments Group Ltd. now owns 19,700 shares of the industrial products company’s stock worth $2,166,000 after acquiring an additional 9,848 shares during the period. Wells Fargo & Company MN lifted its holdings in iRobot by 182.5% during the third quarter. Wells Fargo & Company MN now owns 76,502 shares of the industrial products company’s stock worth $8,409,000 after buying an additional 49,426 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in iRobot by 88.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,380 shares of the industrial products company’s stock worth $921,000 after buying an additional 3,933 shares during the period. Janney Montgomery Scott LLC lifted its holdings in iRobot by 27.3% during the third quarter. Janney Montgomery Scott LLC now owns 3,395 shares of the industrial products company’s stock worth $373,000 after buying an additional 728 shares during the period. Finally, MML Investors Services LLC purchased a new stake in shares of iRobot during the 3rd quarter valued at $891,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Russell J. Campanello sold 17,409 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $120.93, for a total value of $2,105,270.37. Following the completion of the sale, the executive vice president now directly owns 44,601 shares of the company’s stock, valued at approximately $5,393,598.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alison Dean sold 23,625 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $126.12, for a total value of $2,979,585.00. Following the completion of the sale, the chief financial officer now directly owns 68,765 shares of the company’s stock, valued at $8,672,641.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,890 shares of company stock valued at $12,127,939. 3.51% of the stock is currently owned by company insiders.
iRobot (NASDAQ:IRBT) last released its earnings results on Wednesday, February 6th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.33. The company had revenue of $384.67 million for the quarter, compared to the consensus estimate of $381.87 million. iRobot had a net margin of 8.05% and a return on equity of 17.14%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. On average, research analysts expect that iRobot Co. will post 3.1 earnings per share for the current fiscal year.
IRBT has been the topic of several research reports. Northland Securities reissued a “buy” rating and issued a $130.00 target price on shares of iRobot in a research report on Tuesday, April 9th. Zacks Investment Research raised shares of iRobot from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Monday, January 7th. ValuEngine raised shares of iRobot from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. Canaccord Genuity lowered shares of iRobot from a “buy” rating to a “hold” rating and lowered their price target for the company from $115.00 to $114.00 in a report on Tuesday, February 19th. They noted that the move was a valuation call. Finally, Dougherty & Co lowered shares of iRobot to a “hold” rating in a report on Thursday, December 20th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $105.70.
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iRobot Company Profile
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 stairs.
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