Root, Inc. (NASDAQ:ROOT) Director Sells $350,000.00 in Stock

Root, Inc. (NASDAQ:ROOT) Director Doug Ulman sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the transaction, the director now owns 6,201 shares of the company’s stock, valued at approximately $1,085,175. The trade was a 24.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Root Price Performance

ROOT stock opened at $151.11 on Thursday. The stock has a market cap of $2.30 billion, a PE ratio of -122.85 and a beta of 2.48. Root, Inc. has a 12 month low of $34.04 and a 12 month high of $181.14. The company has a 50-day moving average price of $119.17 and a 200 day moving average price of $84.13. 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 earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The firm had revenue of $326.70 million for the quarter, compared to analysts’ expectations of $287.79 million. Equities research analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on ROOT shares. UBS Group raised their price target on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Scotiabank reissued a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.33.

Institutional Trading of Root

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in shares of Root by 651.8% during the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock valued at $31,000 after purchasing an additional 365 shares during the period. Point72 DIFC Ltd purchased a new stake in Root in the 3rd quarter valued at about $33,000. KLP Kapitalforvaltning AS bought a new position in Root in the 4th quarter worth about $94,000. Aquatic Capital Management LLC increased its position in shares of Root by 92.1% during the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock worth $112,000 after acquiring an additional 737 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Root during the fourth quarter valued at approximately $154,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

About Root

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.