Allianz Asset Management GmbH lifted its position in iRobot Co. (NASDAQ:IRBT) by 977.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,662 shares of the industrial products company’s stock after purchasing an additional 114,911 shares during the quarter. Allianz Asset Management GmbH owned about 0.45% of iRobot worth $9,715,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new position in shares of iRobot in the fourth quarter worth about $152,000. Flagship Harbor Advisors LLC purchased a new position in iRobot during the fourth quarter valued at approximately $236,000. Raymond James Financial Services Advisors Inc. purchased a new position in iRobot during the fourth quarter valued at approximately $226,000. Kovack Advisors Inc. purchased a new position in iRobot during the fourth quarter valued at approximately $246,000. Finally, Trexquant Investment LP purchased a new position in iRobot during the third quarter valued at approximately $287,000. Hedge funds and other institutional investors own 89.32% of the company’s stock.
Shares of iRobot Co. (NASDAQ IRBT) opened at $70.27 on Tuesday. iRobot Co. has a 1-year low of $55.77 and a 1-year high of $109.78. The company has a market capitalization of $1,960.00, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16.
iRobot announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other iRobot news, Director Andrew Miller sold 441 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $80.11, for a total value of $35,328.51. Following the sale, the director now directly owns 4,670 shares of the company’s stock, valued at $374,113.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Colin M. Angle sold 45,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $80.06, for a total value of $3,618,712.00. Following the completion of the sale, the chief executive officer now directly owns 534,663 shares in the company, valued at $42,805,119.78. The disclosure for this sale can be found here. 4.49% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on IRBT. Northland Securities began coverage on iRobot in a research report on Friday, February 16th. They set an “outperform” rating for the company. Zacks Investment Research cut iRobot from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Sidoti upgraded iRobot from a “neutral” rating to a “buy” rating in a research report on Friday, February 9th. UBS Group upgraded iRobot from a “market perform” rating to an “outperform” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. upgraded iRobot from an “underweight” rating to a “neutral” rating and set a $61.00 price target for the company in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $68.80.
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iRobot Company Profile
iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home.
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