Dimensional Fund Advisors LP Has $2.92 Million Stock Position in Root, Inc. (NASDAQ:ROOT)

Dimensional Fund Advisors LP boosted its stake in shares of Root, Inc. (NASDAQ:ROOT - Free Report) by 241.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,150 shares of the company's stock after purchasing an additional 28,386 shares during the period. Dimensional Fund Advisors LP owned about 0.27% of Root worth $2,915,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ROOT. Russell Investments Group Ltd. grew its holdings in shares of Root by 651.8% during the 4th 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. KLP Kapitalforvaltning AS acquired a new stake in Root during the fourth quarter valued at $94,000. SBI Securities Co. Ltd. purchased a new position in Root in the fourth quarter valued at about $154,000. FreeGulliver LLC purchased a new position in Root in the fourth quarter valued at about $203,000. Finally, Mariner LLC acquired a new position in Root in the 4th quarter worth about $217,000. 59.82% of the stock is owned by hedge funds and other institutional investors.

Root Stock Performance

Shares of Root stock traded up $0.03 during trading on Friday, reaching $135.74. The company's stock had a trading volume of 274,899 shares, compared to its average volume of 512,667. The business's fifty day moving average price is $138.27 and its 200-day moving average price is $108.90. Root, Inc. has a one year low of $34.04 and a one year high of $181.14. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -110.36 and a beta of 2.40. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39.

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

Insider Activity

In other Root news, CEO Alexander E. Timm sold 1,144 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total value of $153,307.44. Following the completion of the sale, the chief executive officer now owns 161,625 shares in the company, valued at approximately $21,659,366.25. This trade represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Meyer Malka sold 225,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 503,800 shares in the company, valued at approximately $68,421,078. This represents a 30.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,659 shares of company stock valued at $31,748,719. Insiders own 11.76% of the company's stock.

Wall Street Analyst Weigh In

ROOT has been the subject of several recent research reports. Scotiabank reissued a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. UBS Group boosted their target price on shares of Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a research report on Friday, March 7th. Jefferies Financial Group raised their price target on shares of Root from $115.00 to $150.00 and gave the company a "buy" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods upped their price objective on shares of Root from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company increased their target price on shares of Root from $105.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Six equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.