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

Root, Inc. (NASDAQ:ROOT) Director Doug Ulman sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the transaction, the director now owns 6,201 shares of the company’s stock, valued at $1,085,175. The trade was a 24.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Root Price Performance

NASDAQ:ROOT opened at $148.94 on Friday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -121.09 and a beta of 2.48. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The business has a 50 day simple moving average of $120.39 and a 200-day simple moving average of $84.58. Root, Inc. has a 1 year low of $34.04 and a 1 year high of $181.14.

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

Institutional Investors Weigh In On Root

Several institutional investors have recently made changes to their positions in ROOT. California State Teachers Retirement System grew its stake in shares of Root by 12.0% during the fourth quarter. California State Teachers Retirement System now owns 7,477 shares of the company’s stock valued at $543,000 after buying an additional 801 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Root by 69.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,421 shares of the company’s stock valued at $611,000 after buying an additional 3,459 shares during the period. State of Wyoming increased its position in Root by 21.6% during the 4th quarter. State of Wyoming now owns 4,162 shares of the company’s stock valued at $302,000 after purchasing an additional 740 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Root by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock valued at $357,000 after buying an additional 171 shares during the period. Finally, Janus Henderson Group PLC bought a new position in Root in the fourth quarter worth about $248,000. Institutional investors own 59.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ROOT shares. UBS Group boosted their target price on shares of Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Finally, Scotiabank restated a “sector perform” rating on shares of Root in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.33.

Root Company 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.