Root, Inc. (NASDAQ:ROOT) Shares Sold by Trexquant Investment LP

Trexquant Investment LP reduced its position in Root, Inc. (NASDAQ:ROOT) by 40.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 86,544 shares of the company’s stock after selling 57,754 shares during the quarter. Trexquant Investment LP’s holdings in Root were worth $6,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in Root in the third quarter valued at $33,000. KLP Kapitalforvaltning AS purchased a new position in shares of Root in the 4th quarter valued at about $94,000. SBI Securities Co. Ltd. acquired a new position in Root in the 4th quarter worth about $154,000. MetLife Investment Management LLC boosted its position in Root by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock worth $194,000 after purchasing an additional 2,889 shares in the last quarter. Finally, FreeGulliver LLC acquired a new stake in Root in the fourth quarter valued at approximately $203,000. 59.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Root

In other news, insider Mahtiyar Bonakdarpour sold 5,515 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $124.78, for a total value of $688,161.70. Following the sale, the insider now directly owns 286,901 shares of the company’s stock, valued at approximately $35,799,506.78. The trade was a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Doug Ulman sold 2,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the transaction, the director now directly owns 6,201 shares of the company’s stock, valued at $1,085,175. The trade was a 24.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,659 shares of company stock worth $1,191,469. Insiders own 11.71% of the company’s stock.

Root Stock Performance

NASDAQ ROOT opened at $112.37 on Friday. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $181.14. The firm has a market capitalization of $1.71 billion, a P/E ratio of -91.36 and a beta of 2.41. The stock’s fifty day moving average is $125.54 and its two-hundred day moving average is $88.25. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $1.93. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The firm had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $287.79 million. On average, research analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on ROOT. UBS Group upped their target price on Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, March 7th. Scotiabank restated a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research report on Sunday, March 2nd. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.33.

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.