Dimensional Fund Advisors LP Decreases Stock Holdings in Root, Inc. $ROOT

Key Points

• Dimensional Fund Advisors reduced its Root holdings by 12.8% in the first quarter, selling 22,165 shares and retaining 150,464 shares valued at approximately $6.65 million. Institutional investors collectively own 59.82% of Root.
• Analyst sentiment remains cautious: Root has a consensus “Hold” rating from six analysts, with an average price target of $63.67. Keefe, Bruyette & Woods lowered its target to $80 while maintaining an “outperform” rating.
• Root’s latest quarterly results exceeded earnings expectations, reporting $1.49 in EPS versus the $0.83 consensus, though revenue of $389.2 million fell slightly short of estimates. Shares opened at $53.44, within a 12-month range of $40.91 to $104.47.

Dimensional Fund Advisors LP reduced its position in shares of Root, Inc. (NASDAQ:ROOT - Free Report) by 12.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 150,464 shares of the company's stock after selling 22,165 shares during the quarter. Dimensional Fund Advisors LP owned about 0.97% of Root worth $6,645,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC lifted its position in Root by 3.0% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 6,225 shares of the company's stock valued at $797,000 after purchasing an additional 181 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Root by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company's stock worth $686,000 after buying an additional 229 shares during the last quarter. Gabelli Funds LLC increased its holdings in shares of Root by 10.9% in the 3rd quarter. Gabelli Funds LLC now owns 5,100 shares of the company's stock worth $457,000 after buying an additional 500 shares during the last quarter. Swiss National Bank raised its position in shares of Root by 2.4% during the 4th quarter. Swiss National Bank now owns 21,500 shares of the company's stock valued at $1,553,000 after buying an additional 500 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Root by 511.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 734 shares of the company's stock valued at $94,000 after buying an additional 614 shares in the last quarter. 59.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ROOT shares. Zacks Research raised shares of Root from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Keefe, Bruyette & Woods decreased their price objective on Root from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. Weiss Ratings upgraded Root from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 28th. UBS Group set a $50.00 price objective on Root and gave the company a "neutral" rating in a research note on Monday, May 11th. Finally, TD Cowen reiterated a "hold" rating on shares of Root in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Root presently has a consensus rating of "Hold" and an average price target of $63.67.

Root Trading Up 3.8%

Shares of ROOT opened at $53.44 on Tuesday. The company's fifty day simple moving average is $56.98 and its 200-day simple moving average is $54.99. The company has a market cap of $845.96 million, a P/E ratio of 15.10 and a beta of 2.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. Root, Inc. has a twelve month low of $40.91 and a twelve month high of $104.47.

Root (NASDAQ:ROOT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.66. The firm had revenue of $389.20 million during the quarter, compared to analysts' expectations of $395.14 million. Root had a net margin of 3.78% and a return on equity of 19.72%. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 EPS. As a group, analysts expect that Root, Inc. will post 3.28 EPS for the current year.

Root Profile

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company's core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.

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