Root, Inc. (NASDAQ:ROOT) CEO Sells $153,307.44 in Stock

Root, Inc. (NASDAQ:ROOT) CEO Alexander E. Timm sold 1,144 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $134.01, for a total value of $153,307.44. Following the completion of the transaction, the chief executive officer now directly owns 161,625 shares in the company, valued at $21,659,366.25. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Root Stock Down 3.8 %

Root stock traded down $4.74 during mid-day trading on Thursday, reaching $120.43. 817,771 shares of the company were exchanged, compared to its average volume of 521,663. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market cap of $1.83 billion, a P/E ratio of -97.91 and a beta of 2.48. The business has a fifty day moving average of $124.26 and a 200 day moving average of $87.52. Root, Inc. has a 12-month low of $34.04 and a 12-month high of $181.14.

Root (NASDAQ:ROOT) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 earnings per share 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 company had revenue of $326.70 million for the quarter, compared to the consensus estimate of $287.79 million. Research analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ROOT. Russell Investments Group Ltd. lifted its position in 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 acquiring an additional 365 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Root during the third quarter worth $33,000. KLP Kapitalforvaltning AS acquired a new position in shares of Root during the fourth quarter worth $94,000. Aquatic Capital Management LLC lifted its holdings in shares of Root by 92.1% during the 4th quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock valued at $112,000 after purchasing an additional 737 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Root in the 4th quarter worth $154,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ROOT. Scotiabank restated a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. UBS Group raised their target price on shares of Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.