Root, Inc. (NASDAQ:ROOT) Insider Sells $688,161.70 in Stock

Root, Inc. (NASDAQ:ROOT) insider Mahtiyar Bonakdarpour sold 5,515 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $124.78, for a total transaction of $688,161.70. Following the completion of the sale, the insider now directly owns 286,901 shares in the company, valued at approximately $35,799,506.78. The trade was a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Root Trading Down 3.8 %

Shares of ROOT opened at $120.43 on Friday. 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 company has a market cap of $1.83 billion, a price-to-earnings ratio of -97.91 and a beta of 2.48. The stock has a fifty day moving average price of $124.96 and a two-hundred day moving average price of $87.75. Root, Inc. has a 52-week low of $34.04 and a 52-week high of $181.14.

Root (NASDAQ:ROOT) last released its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (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 business had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $287.79 million. Analysts predict that Root, Inc. will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Root

A number of large investors have recently modified their holdings of ROOT. Russell Investments Group Ltd. increased its holdings in shares of Root by 651.8% in 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 in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Root in the 3rd quarter valued at $33,000. KLP Kapitalforvaltning AS bought a new stake in shares of Root during the fourth quarter worth $94,000. Aquatic Capital Management LLC lifted its stake 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 valued at $112,000 after acquiring an additional 737 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Root in the fourth quarter valued at about $154,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

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.