Dynamic Technology Lab Private Ltd Makes New $539,000 Investment in Root, Inc. (NASDAQ:ROOT)

Dynamic Technology Lab Private Ltd acquired a new position in Root, Inc. (NASDAQ:ROOT) in the 3rd quarter, Holdings Channel reports. The firm acquired 14,268 shares of the company’s stock, valued at approximately $539,000.

Other institutional investors have also added to or reduced their stakes in the company. Versor Investments LP purchased a new stake in shares of Root in the 3rd quarter worth about $216,000. SG Americas Securities LLC purchased a new stake in shares of Root in the 3rd quarter worth about $412,000. Algert Global LLC purchased a new stake in shares of Root in the 2nd quarter worth about $288,000. Driehaus Capital Management LLC purchased a new stake in shares of Root in the 2nd quarter worth about $9,154,000. Finally, Alpha DNA Investment Management LLC grew its position in shares of Root by 5.5% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 9,306 shares of the company’s stock worth $480,000 after buying an additional 486 shares during the period. 59.82% of the stock is currently owned by institutional investors.

Insider Transactions at Root

In other news, Director Julie Szudarek sold 2,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $96.33, for a total value of $192,660.00. Following the transaction, the director now owns 15,003 shares in the company, valued at $1,445,238.99. This represents a 11.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Meyer Malka sold 50,959 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $84.78, for a total transaction of $4,320,304.02. Following the completion of the transaction, the insider now owns 102 shares in the company, valued at $8,647.56. This trade represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,905 shares of company stock worth $20,440,479 in the last quarter. Company insiders own 11.71% of the company’s stock.

Root Price Performance

ROOT opened at $99.81 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 stock has a market capitalization of $1.51 billion, a P/E ratio of -81.15 and a beta of 2.34. The company’s 50-day simple moving average is $59.89 and its two-hundred day simple moving average is $55.15. Root, Inc. has a 52-week low of $7.22 and a 52-week high of $118.15.

Root (NASDAQ:ROOT) last posted its earnings results on Wednesday, October 30th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $1.96. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The business had revenue of $305.70 million for the quarter, compared to analysts’ expectations of $272.77 million. During the same quarter in the prior year, the business earned ($3.16) EPS. The business’s revenue for the quarter was up 165.1% compared to the same quarter last year. As a group, analysts predict that Root, Inc. will post -1.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Root from $84.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $90.00 price objective (up from $82.00) on shares of Root in a research report on Tuesday, November 5th. UBS Group increased their price objective on shares of Root from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Cantor Fitzgerald raised shares of Root to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, JMP Securities downgraded shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.