iRobot Co. (NASDAQ:IRBT) EVP Sells $896,250.00 in Stock

iRobot Co. (NASDAQ:IRBT) EVP Russell J. Campanello sold 11,950 shares of the company’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $896,250.00. Following the completion of the transaction, the executive vice president now directly owns 86,625 shares in the company, valued at $6,496,875. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

iRobot opened at $75.92 on Friday, according to Marketbeat. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 2.23 and a beta of 1.09. iRobot Co. has a 1-year low of $55.77 and a 1-year high of $109.78.

iRobot (NASDAQ:IRBT) last announced its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.22. The business had revenue of $217.10 million during the quarter, compared to the consensus estimate of $212.81 million. iRobot had a net margin of 5.90% and a return on equity of 12.95%. The business’s revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. sell-side analysts predict that iRobot Co. will post 2.3 earnings per share for the current fiscal year.

iRobot announced that its Board of Directors has initiated a share buyback program on Tuesday, February 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in iRobot by 702.3% in the 1st quarter. Legal & General Group Plc now owns 442,757 shares of the industrial products company’s stock valued at $28,399,000 after purchasing an additional 387,573 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in iRobot by 106.3% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 689,707 shares of the industrial products company’s stock valued at $52,900,000 after purchasing an additional 355,441 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in iRobot by 47.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 978,328 shares of the industrial products company’s stock valued at $75,038,000 after purchasing an additional 315,233 shares during the last quarter. Hunt Lane Capital LP acquired a new stake in iRobot in the 4th quarter valued at approximately $21,860,000. Finally, Vident Investment Advisory LLC increased its holdings in iRobot by 107.6% in the 4th quarter. Vident Investment Advisory LLC now owns 484,539 shares of the industrial products company’s stock valued at $37,164,000 after purchasing an additional 251,095 shares during the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.

Several equities research analysts have weighed in on the company. ValuEngine downgraded iRobot from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. BidaskClub raised shares of iRobot from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. Zacks Investment Research raised shares of iRobot from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Thursday, April 26th. JPMorgan Chase & Co. raised their price target on shares of iRobot from $61.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, April 26th. Finally, Piper Jaffray Companies raised shares of iRobot from a “neutral” rating to an “overweight” rating and raised their price target for the company from $61.80 to $78.00 in a research note on Wednesday, April 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. iRobot currently has an average rating of “Hold” and a consensus price target of $68.20.

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.

Insider Buying and Selling by Quarter for iRobot (NASDAQ:IRBT)

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