Janus Henderson Group PLC Purchases Shares of 3,423 Root, Inc. (NASDAQ:ROOT)

Janus Henderson Group PLC acquired a new stake in Root, Inc. (NASDAQ:ROOT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,423 shares of the company's stock, valued at approximately $248,000.

Several other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in Root by 651.8% during the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company's stock worth $31,000 after acquiring an additional 365 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Root during the 4th quarter valued at approximately $94,000. Aquatic Capital Management LLC grew its holdings in shares of Root by 92.1% during the 4th quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company's stock valued at $112,000 after purchasing an additional 737 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Root during the 4th quarter worth approximately $154,000. Finally, FreeGulliver LLC bought a new position in Root in the 4th quarter valued at approximately $203,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group increased their price target on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, March 7th. Scotiabank reissued a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. Keefe, Bruyette & Woods upped their price target on shares of Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Root from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Root from $115.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Six equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.17.

Insider Transactions at Root

In other news, CEO Alexander E. Timm sold 1,144 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $134.01, for a total transaction of $153,307.44. Following the completion of the sale, the chief executive officer now owns 161,625 shares of the company's stock, valued at $21,659,366.25. This trade represents a 0.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Meyer Malka sold 225,000 shares of Root stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $135.81, for a total transaction of $30,557,250.00. Following the completion of the sale, the insider now owns 503,800 shares of the company's stock, valued at $68,421,078. This represents a 30.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 233,659 shares of company stock valued at $31,748,719. Corporate insiders own 11.76% of the company's stock.

Root Trading Down 2.6%

Shares of NASDAQ ROOT traded down $3.28 during midday trading on Thursday, reaching $125.32. The stock had a trading volume of 375,867 shares, compared to its average volume of 513,367. The company's 50 day moving average price is $134.29 and its 200 day moving average price is $112.61. 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, Inc. has a twelve month low of $34.04 and a twelve month high of $181.14. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -101.89 and a beta of 2.40.

Root (NASDAQ:ROOT - Get Free Report) last released its earnings results 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. 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 for the quarter was up 37.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.42) earnings per share. As a group, sell-side analysts expect that Root, Inc. will post -0.08 EPS for the current year.

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.