Millennium Management LLC Purchases Shares of 8,600 iRobot Co. (IRBT)

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Millennium Management LLC purchased a new stake in iRobot Co. (NASDAQ:IRBT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,600 shares of the industrial products company’s stock, valued at approximately $652,000.

A number of other hedge funds also recently modified their holdings of IRBT. Psagot Investment House Ltd. acquired a new position in iRobot during the 2nd quarter worth approximately $111,000. PNC Financial Services Group Inc. increased its position in iRobot by 74.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,556 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 663 shares during the period. Janney Montgomery Scott LLC acquired a new position in iRobot during the 2nd quarter worth approximately $202,000. Modera Wealth Management LLC acquired a new position in iRobot during the 2nd quarter worth approximately $227,000. Finally, LLBH Private Wealth Management LLC acquired a new position in iRobot during the 2nd quarter worth approximately $231,000. Hedge funds and other institutional investors own 83.21% of the company’s stock.

In related news, COO Christian Cerda sold 59,441 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $107.58, for a total value of $6,394,662.78. Following the sale, the chief operating officer now owns 76,063 shares of the company’s stock, valued at approximately $8,182,857.54. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Russell J. Campanello sold 48,582 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $110.63, for a total value of $5,374,626.66. Following the completion of the sale, the executive vice president now directly owns 86,050 shares in the company, valued at approximately $9,519,711.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,406 shares of company stock worth $18,014,443. Insiders own 4.49% of the company’s stock.

IRBT opened at $96.01 on Friday. The company has a market capitalization of $2.77 billion, a P/E ratio of 37.23, a PEG ratio of 1.78 and a beta of 1.73. iRobot Co. has a 1-year low of $55.77 and a 1-year high of $118.75.

iRobot (NASDAQ:IRBT) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.64. The business had revenue of $264.50 million for the quarter, compared to analysts’ expectations of $245.12 million. iRobot had a return on equity of 15.95% and a net margin of 6.52%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. Analysts expect that iRobot Co. will post 2.68 earnings per share for the current year.

Several equities analysts have issued reports on IRBT shares. BidaskClub cut iRobot from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. ValuEngine upgraded iRobot from a “hold” rating to a “buy” rating in a report on Monday, August 20th. Sidoti upgraded iRobot from a “neutral” rating to a “buy” rating in a report on Tuesday, October 16th. Needham & Company LLC upgraded iRobot from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Wednesday, October 24th. Finally, Zacks Investment Research upgraded iRobot from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Friday, October 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. iRobot currently has an average rating of “Buy” and a consensus price target of $86.67.

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iRobot 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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Institutional Ownership by Quarter for iRobot (NASDAQ:IRBT)

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