Meyer Malka Sells 75,839 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT) major shareholder Meyer Malka sold 75,839 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $81.21, for a total value of $6,158,885.19. Following the transaction, the insider now owns 43,107 shares in the company, valued at approximately $3,500,719.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Meyer Malka also recently made the following trade(s):

• On Monday, November 11th, Meyer Malka sold 118,107 shares of Root stock. The shares were sold at an average price of $82.71, for a total value of $9,768,629.97.
• On Thursday, October 31st, Meyer Malka sold 50,959 shares of Root stock. The stock was sold at an average price of $84.78, for a total value of $4,320,304.02.

Root Stock Up 0.7 %

NASDAQ ROOT opened at $75.55 on Thursday. Root, Inc. has a twelve month low of $7.22 and a twelve month high of $118.15. The stock has a market cap of $1.14 billion, a PE ratio of -61.42 and a beta of 2.34. The firm has a 50-day simple moving average of $46.50 and a 200 day simple moving average of $52.31. 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $1.96. The company had revenue of $305.70 million during the quarter, compared to the consensus estimate of $272.77 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company’s quarterly revenue was up 165.1% on a year-over-year basis. During the same quarter last year, the company earned ($3.16) EPS. On average, research analysts forecast that Root, Inc. will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Root

A number of institutional investors have recently bought and sold shares of ROOT. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Root during the 1st quarter worth about $1,171,000. Quantbot Technologies LP acquired a new position in Root in the first quarter worth about $431,000. Price T Rowe Associates Inc. MD bought a new position in Root during the first quarter worth about $434,000. Tidal Investments LLC bought a new position in Root during the first quarter worth about $1,997,000. Finally, Bank of New York Mellon Corp acquired a new stake in Root during the second quarter valued at approximately $1,280,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ROOT shares. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of Root in a research note on Tuesday, October 15th. UBS Group lifted their target price on shares of Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company upped their price target on shares of Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Cantor Fitzgerald upgraded Root to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group decreased their target price on Root from $84.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.13.

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.