52,817 Shares in Root, Inc. (NASDAQ:ROOT) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets bought a new position in Root, Inc. (NASDAQ:ROOT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 52,817 shares of the company's stock, valued at approximately $3,834,000. BNP Paribas Financial Markets owned about 0.35% of Root as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Root by 651.8% in the 4th quarter. Russell Investments Group Ltd. now owns 421 shares of the company's stock worth $31,000 after buying an additional 365 shares during the period. KLP Kapitalforvaltning AS bought a new position in Root in the 4th quarter worth approximately $94,000. Aquatic Capital Management LLC increased its position in Root by 92.1% in the 4th quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company's stock worth $112,000 after buying an additional 737 shares during the period. SBI Securities Co. Ltd. bought a new position in Root in the 4th quarter worth approximately $154,000. Finally, FreeGulliver LLC bought a new position in Root in the 4th quarter worth approximately $203,000. 59.82% of the stock is owned by institutional investors.

Root Stock Performance

Shares of NASDAQ:ROOT opened at $141.20 on Thursday. The business's fifty day moving average price is $138.12 and its two-hundred day moving average price is $107.58. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $181.14. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -114.80 and a beta of 2.40. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39.

Root (NASDAQ:ROOT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.62. The firm had revenue of $349.40 million for the quarter, compared to analysts' expectations of $305.24 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The business's revenue was up 37.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.42) earnings per share. As a group, analysts predict that Root, Inc. will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Root news, Director Doug Ulman sold 2,000 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the transaction, the director now owns 6,201 shares of the company's stock, valued at approximately $1,085,175. The trade was a 24.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Meyer Malka sold 225,000 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $135.81, for a total value of $30,557,250.00. Following the transaction, the insider now directly owns 503,800 shares in the company, valued at $68,421,078. This trade represents a 30.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 233,659 shares of company stock valued at $31,748,719. 11.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ROOT shares. Wells Fargo & Company lifted their price target on Root from $105.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Scotiabank restated a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. UBS Group boosted their price objective on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, March 7th. Jefferies Financial Group boosted their price objective on Root from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Root presently has an average rating of "Hold" and an average price target of $122.17.

Root 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.