Teacher Retirement System of Texas trimmed its position in iRobot Co. (NASDAQ:IRBT) by 36.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,170 shares of the industrial products company’s stock after selling 3,509 shares during the period. Teacher Retirement System of Texas’ holdings in iRobot were worth $396,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of iRobot by 3.4% in the 4th quarter. BlackRock Inc. now owns 3,778,273 shares of the industrial products company’s stock valued at $289,792,000 after acquiring an additional 123,764 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of iRobot by 9.4% in the 1st quarter. Thrivent Financial for Lutherans now owns 18,800 shares of the industrial products company’s stock valued at $1,207,000 after acquiring an additional 1,611 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in iRobot during the 4th quarter worth $484,000. Engineers Gate Manager LP bought a new position in iRobot during the 1st quarter worth $368,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in iRobot during the 4th quarter worth $2,570,000. Institutional investors own 84.10% of the company’s stock.
Shares of iRobot opened at $75.92 on Friday, MarketBeat.com reports. iRobot Co. has a 1-year low of $55.77 and a 1-year high of $109.78. The stock has a market cap 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 announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 27th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several brokerages recently issued reports on IRBT. ValuEngine raised iRobot from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. BidaskClub raised iRobot from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 7th. Canaccord Genuity lowered their target price on iRobot from $65.00 to $63.00 and set a “hold” rating for the company in a research report on Thursday, April 26th. JPMorgan Chase & Co. raised their target price on iRobot from $61.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, April 26th. Finally, Zacks Investment Research raised iRobot from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $68.20.
In other news, EVP Russell J. Campanello sold 11,950 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $896,250.00. Following the completion of the sale, the executive vice president now directly owns 86,625 shares in the company, valued at approximately $6,496,875. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andrew Miller sold 636 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $69.41, for a total value of $44,144.76. Following the completion of the sale, the director now owns 6,538 shares of the company’s stock, valued at $453,802.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,920 shares of company stock valued at $1,940,445. Company insiders own 4.49% of the company’s stock.
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 stair.
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