Informed Momentum Co LLC acquired a new position in Root, Inc. (NASDAQ:ROOT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 20,403 shares of the company's stock, valued at approximately $2,723,000. Informed Momentum Co LLC owned approximately 0.13% of Root as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of ROOT. California State Teachers Retirement System raised its position in shares of Root by 12.0% in the 4th quarter. California State Teachers Retirement System now owns 7,477 shares of the company's stock valued at $543,000 after buying an additional 801 shares in the last quarter. Mariner LLC acquired a new position in shares of Root in the 4th quarter valued at approximately $217,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Root in the 1st quarter valued at approximately $220,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Root in the 4th quarter valued at approximately $417,000. Finally, Barclays PLC raised its position in shares of Root by 9.4% in the 4th quarter. Barclays PLC now owns 15,358 shares of the company's stock valued at $1,115,000 after buying an additional 1,325 shares in the last quarter. Institutional investors and hedge funds own 59.82% of the company's stock.
Insider Activity
In related news, CEO Alexander E. Timm sold 8,290 shares of Root stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $130.60, for a total value of $1,082,674.00. Following the transaction, the chief executive officer directly owned 168,609 shares of the company's stock, valued at $22,020,335.40. The trade was a 4.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Beth A. Birnbaum sold 2,852 shares of the business's stock in a transaction 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 sale, the director owned 14,280 shares in the company, valued at approximately $1,975,352.40. This trade represents a 16.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,083 shares of company stock valued at $2,805,069. Insiders own 11.76% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on ROOT shares. Wall Street Zen cut shares of Root from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods decreased their price target on shares of Root from $170.00 to $165.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. TD Cowen lifted their price target on shares of Root from $51.00 to $125.00 and gave the company a "hold" rating in a report on Tuesday, July 8th. Jefferies Financial Group decreased their price target on shares of Root from $172.00 to $138.00 and set a "buy" rating on the stock in a report on Monday. Finally, Wells Fargo & Company lifted their price target on shares of Root from $118.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $128.00.
View Our Latest Report on ROOT
Root Price Performance
Shares of Root stock traded up $0.87 on Friday, reaching $90.43. The stock had a trading volume of 522,227 shares, compared to its average volume of 563,934. Root, Inc. has a 1 year low of $34.04 and a 1 year high of $181.14. The company has a market cap of $1.39 billion, a P/E ratio of 18.05 and a beta of 2.25. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.82. The business's 50 day moving average is $124.26 and its two-hundred day moving average is $128.12.
Root (NASDAQ:ROOT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.23. The business had revenue of $382.90 million for the quarter, compared to the consensus estimate of $348.36 million. Root had a net margin of 6.02% and a return on equity of 38.24%. Root's quarterly revenue was up 32.4% on a year-over-year basis. During the same period last year, the firm posted ($0.52) earnings per share. As a group, research analysts anticipate that Root, Inc. will post -0.08 EPS for the current year.
Root Company Profile
(
Free Report)
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.
Recommended Stories

Before you consider Root, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Root wasn't on the list.
While Root currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.