Root, Inc. $ROOT is Landscape Capital Management L.L.C.'s 4th Largest Position

Key Points

• Landscape Capital Management L.L.C. significantly increased its stake in Root, Inc. by 242.7% in Q1, owning a total of 96,471 shares, which represents 1.1% of its portfolio.
• Insider transactions included the sale of shares by key executives, with CEO Alexander E. Timm selling 8,290 shares, reducing his ownership by 4.69%.
• Root, Inc. reported an earnings per share (EPS) of $1.29 for the last quarter, exceeding the expected EPS of $1.06 and marking a 32.4% year-over-year revenue growth.

Landscape Capital Management L.L.C. raised its position in Root, Inc. (NASDAQ:ROOT - Free Report) by 242.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 96,471 shares of the company's stock after buying an additional 68,321 shares during the period. Root comprises about 1.1% of Landscape Capital Management L.L.C.'s portfolio, making the stock its 4th largest holding. Landscape Capital Management L.L.C. owned approximately 0.63% of Root worth $12,873,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Root by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company's stock worth $357,000 after buying an additional 171 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Root by 5.0% in the fourth quarter. MetLife Investment Management LLC now owns 5,382 shares of the company's stock valued at $391,000 after purchasing an additional 255 shares during the last quarter. KBC Group NV acquired a new stake in shares of Root in the first quarter valued at approximately $48,000. Northern Trust Corp increased its holdings in shares of Root by 0.6% in the first quarter. Northern Trust Corp now owns 75,646 shares of the company's stock valued at $10,094,000 after purchasing an additional 487 shares during the last quarter. Finally, Aquatic Capital Management LLC increased its holdings in shares of Root by 92.1% in the fourth 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. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Root news, Director Jerri Devard sold 1,895 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $141.50, for a total value of $268,142.50. Following the completion of the transaction, the director owned 18,532 shares in the company, valued at $2,622,278. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Julie Szudarek sold 2,790 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $133.80, for a total transaction of $373,302.00. Following the completion of the transaction, the director owned 13,332 shares of the company's stock, valued at $1,783,821.60. This represents a 17.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,537 shares of company stock worth $1,035,962. Corporate insiders own 11.76% of the company's stock.

Root Stock Up 2.2%

Shares of NASDAQ:ROOT traded up $1.96 during trading on Monday, hitting $92.22. The company's stock had a trading volume of 445,450 shares, compared to its average volume of 775,560. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.26 and a current ratio of 1.26. The business has a 50 day moving average price of $111.78 and a two-hundred day moving average price of $126.99. The company has a market capitalization of $1.42 billion, a PE ratio of 18.41 and a beta of 2.24. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $181.14.

Root (NASDAQ:ROOT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.23. The firm had revenue of $382.90 million during 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%. The company's revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. As a group, research analysts expect that Root, Inc. will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ROOT. Jefferies Financial Group reduced their price target on shares of Root from $172.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. 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 research report on Thursday, August 7th. 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 research report on Tuesday, July 8th. Keefe, Bruyette & Woods cut their target price on Root from $170.00 to $165.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen lowered Root from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Root currently has an average rating of "Hold" and an average target price of $123.83.

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.