Beth A. Birnbaum Sells 2,852 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT - Get Free Report) Director Beth A. Birnbaum sold 2,852 shares of Root stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $138.33, for a total transaction of $394,517.16. Following the completion of the sale, the director now owns 14,280 shares of the company's stock, valued at $1,975,352.40. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Root Stock Performance

Shares of ROOT traded up $12.56 during mid-day trading on Friday, hitting $151.73. 785,719 shares of the company's stock were exchanged, compared to its average volume of 516,232. The business's 50 day moving average is $133.07 and its two-hundred day moving average is $114.44. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $2.33 billion, a P/E ratio of -123.36 and a beta of 2.31. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $181.14.

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

Hedge Funds Weigh In On Root

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROOT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Root by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company's stock valued at $357,000 after buying an additional 171 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Root by 5.0% during the 4th quarter. MetLife Investment Management LLC now owns 5,382 shares of the company's stock worth $391,000 after purchasing an additional 255 shares during the period. Legal & General Group Plc lifted its position in Root by 3.6% during the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company's stock worth $577,000 after buying an additional 273 shares during the period. Twin Tree Management LP acquired a new stake in shares of Root in the first quarter worth approximately $37,000. Finally, KBC Group NV acquired a new position in shares of Root in the 1st quarter valued at $48,000. Institutional investors and hedge funds own 59.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ROOT shares. UBS Group raised their price objective on shares of Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods raised their target price on shares of Root from $150.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen raised shares of Root from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Scotiabank restated a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. Finally, Jefferies Financial Group raised their target price on Root from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.40.

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.

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