Convergence Investment Partners LLC Sells 1,159 Shares of iRobot Co. (NASDAQ:IRBT)

Convergence Investment Partners LLC decreased its position in shares of iRobot Co. (NASDAQ:IRBT) by 11.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,208 shares of the industrial products company’s stock after selling 1,159 shares during the quarter. Convergence Investment Partners LLC’s holdings in iRobot were worth $773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pictet Asset Management Ltd. raised its stake in shares of iRobot by 1.5% in the first quarter. Pictet Asset Management Ltd. now owns 1,483,399 shares of the industrial products company’s stock worth $60,671,000 after purchasing an additional 22,328 shares during the last quarter. Invesco Ltd. grew its holdings in iRobot by 3.3% during the first quarter. Invesco Ltd. now owns 958,467 shares of the industrial products company’s stock worth $39,201,000 after acquiring an additional 30,490 shares during the period. State Street Corp grew its holdings in iRobot by 9.8% during the first quarter. State Street Corp now owns 903,023 shares of the industrial products company’s stock worth $36,934,000 after acquiring an additional 80,621 shares during the period. Baillie Gifford & Co. grew its holdings in iRobot by 0.9% during the first quarter. Baillie Gifford & Co. now owns 823,274 shares of the industrial products company’s stock worth $33,671,000 after acquiring an additional 7,410 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in iRobot by 66.3% during the first quarter. Bank of New York Mellon Corp now owns 543,181 shares of the industrial products company’s stock worth $22,217,000 after acquiring an additional 216,640 shares during the period.

In other news, Director Andrew Miller sold 900 shares of iRobot stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.83, for a total value of $73,647.00. Following the sale, the director now directly owns 8,186 shares of the company’s stock, valued at $669,860.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Saeger sold 8,155 shares of iRobot stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.19, for a total value of $662,104.45. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $2,554,237.40. The disclosure for this sale can be found here. Insiders sold 68,868 shares of company stock worth $5,783,006 over the last ninety days. Corporate insiders own 2.91% of the company’s stock.

Several analysts recently commented on the company. TheStreet raised iRobot from a “c” rating to a “b-” rating in a report on Wednesday, July 22nd. Piper Sandler raised their target price on iRobot from $50.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, June 16th. BidaskClub lowered iRobot from a “strong-buy” rating to a “buy” rating in a report on Friday, July 24th. Colliers Secur. lowered iRobot from a “buy” rating to a “neutral” rating in a report on Thursday, July 23rd. Finally, Colliers Securities lowered iRobot from a “buy” rating to a “neutral” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $74.89.

Shares of NASDAQ:IRBT traded down $0.91 during trading on Friday, reaching $72.69. The stock had a trading volume of 437,453 shares, compared to its average volume of 773,843. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.68 and a current ratio of 3.45. The business has a fifty day moving average price of $81.16 and a 200-day moving average price of $61.03. The stock has a market cap of $2.03 billion, a PE ratio of 21.57, a PEG ratio of 3.33 and a beta of 1.74. iRobot Co. has a 1-year low of $32.79 and a 1-year high of $89.26.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.77. The firm had revenue of $279.88 million for the quarter, compared to analyst estimates of $264.48 million. iRobot had a return on equity of 9.55% and a net margin of 8.08%. Sell-side analysts expect that iRobot Co. will post 1.45 earnings per share for the current year.

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 stairs.

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Institutional Ownership by Quarter for iRobot (NASDAQ:IRBT)

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