Root, Inc. (NASDAQ:ROOT) Insider Mahtiyar Bonakdarpour Sells 5,515 Shares

Root, Inc. (NASDAQ:ROOT) insider Mahtiyar Bonakdarpour sold 5,515 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $124.78, for a total transaction of $688,161.70. Following the transaction, the insider now 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 legal filing with the SEC, which is accessible through this hyperlink.

Root Stock Down 3.8 %

ROOT stock traded down $4.74 during trading on Thursday, hitting $120.43. 817,771 shares of the stock traded hands, compared to its average volume of 521,663. The firm’s 50 day moving average is $124.26 and its two-hundred day moving average is $87.52. Root, Inc. has a 1 year low of $34.04 and a 1 year high of $181.14. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -97.91 and a beta of 2.48.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 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 company had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $287.79 million. On average, sell-side analysts anticipate that Root, Inc. will post -0.08 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Root

Several institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake 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 in the last quarter. Point72 DIFC Ltd purchased a new position in Root during the third quarter worth $33,000. KLP Kapitalforvaltning AS purchased a new stake in Root in the 4th quarter worth about $94,000. Aquatic Capital Management LLC lifted its stake 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 worth $112,000 after acquiring an additional 737 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Root in the fourth quarter worth about $154,000. 59.82% of the stock is currently owned by institutional investors.

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.