Jennison Associates LLC Makes New $767,000 Investment in iRobot Co. (NASDAQ:IRBT)

Jennison Associates LLC purchased a new position in iRobot Co. (NASDAQ:IRBT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,551 shares of the industrial products company’s stock, valued at approximately $767,000.

Other institutional investors have also modified their holdings of the company. UBS Asset Management Americas Inc. raised its position in iRobot by 1.5% in the third quarter. UBS Asset Management Americas Inc. now owns 32,793 shares of the industrial products company’s stock worth $2,489,000 after acquiring an additional 482 shares in the last quarter. California Public Employees Retirement System raised its position in iRobot by 2.6% in the third quarter. California Public Employees Retirement System now owns 62,608 shares of the industrial products company’s stock worth $4,752,000 after acquiring an additional 1,600 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in iRobot by 690.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 256,937 shares of the industrial products company’s stock worth $19,502,000 after acquiring an additional 224,442 shares in the last quarter. Squarepoint Ops LLC bought a new stake in iRobot in the third quarter worth about $6,240,000. Finally, Altshuler Shaham Ltd raised its position in iRobot by 173.4% in the third quarter. Altshuler Shaham Ltd now owns 421 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

IRBT has been the topic of several recent analyst reports. Citigroup boosted their price objective on iRobot from $95.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, February 12th. Zacks Investment Research upgraded iRobot from a “hold” rating to a “strong-buy” rating and set a $140.00 price objective on the stock in a report on Thursday, February 18th. Northland Securities boosted their price objective on iRobot from $120.00 to $140.00 in a report on Friday, February 12th. Raymond James downgraded iRobot from an “outperform” rating to a “market perform” rating in a report on Monday, January 25th. Finally, JPMorgan Chase & Co. upgraded iRobot from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $101.00 to $166.00 in a report on Thursday, February 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $113.63.

In related news, CEO Colin M. Angle sold 15,475 shares of the business’s stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $80.17, for a total value of $1,240,630.75. Also, Director Michelle Stacy sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 25th. The shares were sold at an average price of $124.00, for a total value of $248,000.00. Following the completion of the sale, the director now directly owns 4,694 shares of the company’s stock, valued at approximately $582,056. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,780 shares of company stock worth $7,084,091. Company insiders own 2.91% of the company’s stock.

NASDAQ:IRBT opened at $121.51 on Tuesday. iRobot Co. has a fifty-two week low of $32.79 and a fifty-two week high of $197.40. The stock’s 50-day moving average is $108.88 and its two-hundred day moving average is $86.50. The stock has a market cap of $3.43 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 3.15 and a beta of 1.48.

iRobot (NASDAQ:IRBT) last released its earnings results on Tuesday, February 9th. The industrial products company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.53. iRobot had a return on equity of 13.69% and a net margin of 11.72%. The company had revenue of $544.83 million for the quarter, compared to analysts’ expectations of $494.07 million. During the same quarter in the previous year, the business posted $0.70 EPS. The business’s revenue for the quarter was up 27.7% on a year-over-year basis. Sell-side analysts forecast that iRobot Co. will post 2.71 EPS for the current year.

iRobot Company Profile

iRobot Corporation designs, builds, and sells robots to the consumer market in the United States, Europe, the Middle East, Africa, and internationally. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; Terra robotic lawn mower products; and Root robots designed to help children learn how to code.

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Institutional Ownership by Quarter for iRobot (NASDAQ:IRBT)

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