Mission Wealth Management LP Purchases Shares of 2,632 iRobot Co. (NASDAQ:IRBT)

Mission Wealth Management LP purchased a new position in iRobot Co. (NASDAQ:IRBT) in the 1st quarter, Holdings Channel reports. The fund purchased 2,632 shares of the industrial products company’s stock, valued at approximately $310,000.

Several other institutional investors and hedge funds also recently bought and sold shares of IRBT. Gagnon Securities LLC grew its stake in shares of iRobot by 177.8% during the 1st quarter. Gagnon Securities LLC now owns 113,289 shares of the industrial products company’s stock valued at $13,333,000 after purchasing an additional 72,507 shares during the period. Gagnon Advisors LLC bought a new stake in shares of iRobot during the 1st quarter valued at about $6,140,000. Trexquant Investment LP bought a new stake in shares of iRobot during the 1st quarter valued at about $2,842,000. The Manufacturers Life Insurance Company grew its stake in shares of iRobot by 7.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 17,574 shares of the industrial products company’s stock valued at $2,068,000 after purchasing an additional 1,218 shares during the period. Finally, Northern Trust Corp grew its stake in shares of iRobot by 0.8% during the 1st quarter. Northern Trust Corp now owns 365,855 shares of the industrial products company’s stock valued at $43,057,000 after purchasing an additional 2,777 shares during the period. 97.16% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on IRBT. Canaccord Genuity downgraded iRobot from a “buy” rating to a “hold” rating and cut their price objective for the company from $115.00 to $114.00 in a research note on Tuesday, February 19th. They noted that the move was a valuation call. Needham & Company LLC downgraded iRobot from a “buy” rating to a “hold” rating and set a $126.87 price objective for the company. in a research note on Tuesday, March 19th. They noted that the move was a valuation call. Sidoti downgraded iRobot from a “buy” rating to a “neutral” rating and set a $118.00 price objective for the company. in a research note on Thursday, February 21st. They noted that the move was a valuation call. Northland Securities reiterated a “buy” rating and set a $130.00 price objective on shares of iRobot in a research note on Tuesday, April 9th. Finally, Zacks Investment Research upgraded iRobot from a “hold” rating to a “strong-buy” rating and set a $114.00 price objective for the company in a research note on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $114.12.

In other iRobot news, CEO Colin M. Angle sold 11,486 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $87.07, for a total value of $1,000,086.02. Following the completion of the transaction, the chief executive officer now directly owns 402,368 shares in the company, valued at approximately $35,034,181.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Miller sold 878 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $91.97, for a total value of $80,749.66. Following the completion of the transaction, the director now owns 14,199 shares of the company’s stock, valued at $1,305,882.03. The disclosure for this sale can be found here. Insiders sold a total of 47,192 shares of company stock valued at $5,375,517 over the last 90 days. 3.01% of the stock is currently owned by corporate insiders.

IRBT stock opened at $88.50 on Friday. iRobot Co. has a 1-year low of $70.86 and a 1-year high of $132.88. The company has a quick ratio of 1.97, a current ratio of 3.22 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.70.

iRobot (NASDAQ:IRBT) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.16. iRobot had a return on equity of 17.64% and a net margin of 8.09%. The business had revenue of $237.66 million during the quarter, compared to the consensus estimate of $251.40 million. During the same period in the prior year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts expect that iRobot Co. will post 3.16 EPS for the current fiscal year.

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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 stairs.

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Institutional Ownership by Quarter for iRobot (NASDAQ:IRBT)

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