UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,228 Shares of Root, Inc. (NASDAQ:ROOT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Root, Inc. (NASDAQ:ROOT) by 19.8% during the third quarter, Holdings Channel reports. The fund owned 4,962 shares of the company’s stock after selling 1,228 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Root were worth $187,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MetLife Investment Management LLC boosted its position in shares of Root by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock valued at $194,000 after purchasing an additional 2,889 shares in the last quarter. FMR LLC lifted its position in Root by 966.2% during the third quarter. FMR LLC now owns 18,040 shares of the company’s stock valued at $682,000 after buying an additional 16,348 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Root by 120.0% during the 3rd quarter. Quantbot Technologies LP now owns 14,836 shares of the company’s stock valued at $561,000 after buying an additional 8,092 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Root in the 3rd quarter worth about $539,000. Finally, Versor Investments LP purchased a new stake in shares of Root in the 3rd quarter worth about $216,000. Institutional investors own 59.82% of the company’s stock.

Insider Activity

In other news, Director Julie Szudarek sold 2,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $96.33, for a total transaction of $192,660.00. Following the transaction, the director now directly owns 15,003 shares of the company’s stock, valued at $1,445,238.99. This represents a 11.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Meyer Malka sold 75,839 shares of Root stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $81.21, for a total value of $6,158,885.19. Following the completion of the sale, the insider now directly owns 43,107 shares of the company’s stock, valued at $3,500,719.47. The trade was a 63.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,905 shares of company stock valued at $20,440,479 in the last 90 days. 11.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ROOT has been the topic of several research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $90.00 price objective (up previously from $82.00) on shares of Root in a research note on Tuesday, November 5th. UBS Group boosted their price target on Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Citizens Jmp downgraded Root from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price objective on Root from $84.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company increased their target price on Root from $64.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Root has an average rating of “Hold” and an average price target of $59.13.

Root Stock Performance

Shares of ROOT opened at $73.22 on Friday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -59.53 and a beta of 2.47. The business’s fifty day simple moving average is $74.44 and its two-hundred day simple moving average is $58.12. Root, Inc. has a 12 month low of $7.22 and a 12 month high of $118.15. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of ($0.61) by $1.96. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company had revenue of $305.70 million for the quarter, compared to analysts’ expectations of $272.77 million. During the same period last year, the firm posted ($3.16) earnings per share. Root’s revenue was up 165.1% compared to the same quarter last year. Research analysts anticipate that Root, Inc. will post -1.2 earnings per share for the current fiscal year.

Root Profile

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.