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

Root, Inc. (NASDAQ:ROOT) Director Doug Ulman sold 2,000 shares of Root stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director now directly owns 6,201 shares in the company, valued at approximately $1,085,175. The trade was a 24.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Root Stock Performance

Shares of NASDAQ ROOT traded down $17.45 during trading on Wednesday, reaching $151.11. 1,221,682 shares of the company traded hands, compared to its average volume of 510,252. The stock has a market cap of $2.30 billion, a P/E ratio of -122.85 and a beta of 2.48. The firm’s fifty day simple moving average is $117.87 and its 200 day simple moving average is $83.66. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. Root, Inc. has a 12-month low of $34.04 and a 12-month high of $181.14.

Root (NASDAQ:ROOT) last announced 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. 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%. As a group, research analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Root

A number of large investors have recently bought and sold shares of ROOT. Vanguard Group Inc. lifted its position in shares of Root by 16.2% during the 4th quarter. Vanguard Group Inc. now owns 526,928 shares of the company’s stock valued at $38,250,000 after buying an additional 73,413 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Root during the fourth quarter valued at $29,661,000. Renaissance Technologies LLC lifted its holdings in Root by 41.8% during the fourth quarter. Renaissance Technologies LLC now owns 263,515 shares of the company’s stock valued at $19,129,000 after purchasing an additional 77,699 shares in the last quarter. State Street Corp grew its position in shares of Root by 0.3% in the third quarter. State Street Corp now owns 176,891 shares of the company’s stock valued at $6,683,000 after purchasing an additional 444 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Root by 163.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,923 shares of the company’s stock worth $9,286,000 after purchasing an additional 79,317 shares in the last quarter. Institutional investors and hedge funds own 59.82% of the company’s stock.

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.