Root, Inc. (NASDAQ:ROOT) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG lifted its position in Root, Inc. (NASDAQ:ROOT - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,818 shares of the company's stock after purchasing an additional 2,513 shares during the period. Deutsche Bank AG owned about 0.05% of Root worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. MetLife Investment Management LLC raised its holdings in shares of Root by 5.0% during the fourth quarter. MetLife Investment Management LLC now owns 5,382 shares of the company's stock valued at $391,000 after acquiring an additional 255 shares during the last quarter. Legal & General Group Plc grew its stake in Root by 3.6% during the 4th quarter. Legal & General Group Plc now owns 7,955 shares of the company's stock valued at $577,000 after acquiring an additional 273 shares in the last quarter. Russell Investments Group Ltd. boosted 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 worth $31,000 after purchasing an additional 365 shares during the last quarter. Aquatic Capital Management LLC lifted its position in Root by 92.1% during the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company's stock worth $112,000 after buying an additional 737 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Root by 9.2% in the 4th quarter. Alliancebernstein L.P. now owns 10,100 shares of the company's stock worth $733,000 after acquiring an additional 850 shares during the last quarter. 59.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ROOT has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on shares of Root from $115.00 to $150.00 and gave the company a "buy" rating in a report on Friday, April 11th. Wall Street Zen raised Root from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods increased their price objective on Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company boosted their target price on Root from $105.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Root currently has an average rating of "Moderate Buy" and a consensus price target of $122.17.

Insider Buying and Selling at Root

In related news, Director Doug Ulman sold 2,000 shares of the stock in a transaction 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 sale, the director now owns 6,201 shares of the company's stock, valued at $1,085,175. This trade represents a 24.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alexander E. Timm sold 1,144 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total transaction of $153,307.44. Following the sale, the chief executive officer now directly owns 161,625 shares in the company, valued at $21,659,366.25. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 233,659 shares of company stock worth $31,748,719. 11.76% of the stock is owned by corporate insiders.

Root Price Performance

Shares of NASDAQ:ROOT traded up $4.44 on Friday, reaching $129.76. 349,390 shares of the company were exchanged, compared to its average volume of 514,055. The company has a 50-day moving average of $133.51 and a 200-day moving average of $112.99. 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 cap of $1.99 billion, a price-to-earnings ratio of -105.50 and a beta of 2.40. Root, Inc. has a 1-year low of $34.04 and a 1-year high of $181.14.

Root (NASDAQ:ROOT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.07 EPS for the quarter, topping the consensus estimate 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 return on equity of 9.81% and a negative net margin of 1.56%. The company's quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.42) EPS. Equities analysts forecast that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

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.