Neuberger Berman Group LLC Takes $1.16 Million Position in Root, Inc. $ROOT

Key Points

• Neuberger Berman Group LLC has acquired a new position in Root, Inc., purchasing 8,676 shares valued at approximately $1.16 million, which represents about 0.06% of the company's total shares.
• Several large investors, including T. Rowe Price and Invesco Ltd., have also recently increased their positions in Root, indicating strong institutional interest in the company.
• Root's stock price has fluctuated significantly, with a 1-year range between $34.04 and $181.14, and they reported earnings per share of $1.29 for the latest quarter, exceeding analyst expectations.

Neuberger Berman Group LLC bought a new stake in Root, Inc. (NASDAQ:ROOT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,676 shares of the company's stock, valued at approximately $1,158,000. Neuberger Berman Group LLC owned 0.06% of Root as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of ROOT. Russell Investments Group Ltd. boosted its position in shares of Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company's stock valued at $31,000 after acquiring an additional 365 shares during the period. KBC Group NV bought a new stake in shares of Root in the first quarter valued at about $48,000. Aquatic Capital Management LLC boosted its position 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 acquiring an additional 737 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Root in the first quarter valued at about $204,000. Finally, Mariner LLC bought a new stake in shares of Root in the fourth quarter valued at about $217,000. Institutional investors own 59.82% of the company's stock.

Insider Buying and Selling

In other news, Director Jerri Devard sold 1,895 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was 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 of the company's stock, valued at $2,622,278. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Beth A. Birnbaum sold 2,852 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $138.33, for a total value of $394,517.16. Following the completion of the transaction, the director directly owned 14,280 shares of the company's stock, valued at $1,975,352.40. This represents a 16.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,083 shares of company stock valued at $2,805,069 over the last three months. Insiders own 11.76% of the company's stock.

Root Price Performance

NASDAQ ROOT traded up $4.59 during trading on Thursday, hitting $91.35. 273,380 shares of the company's stock were exchanged, compared to its average volume of 560,303. 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 company has a market cap of $1.41 billion, a PE ratio of 18.21 and a beta of 2.25. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $181.14. The stock's 50 day moving average price is $119.09 and its two-hundred day moving average price is $128.00.

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 the consensus estimate 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 return on equity of 38.24% and a net margin of 6.02%.The business's quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.52) earnings per share. Research analysts expect that Root, Inc. will post -0.08 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ROOT. Jefferies Financial Group reduced their target price on shares of Root from $172.00 to $138.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Keefe, Bruyette & Woods dropped their price target on Root from $170.00 to $165.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wells Fargo & Company boosted their price target on Root from $118.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. UBS Group reaffirmed a "neutral" rating and issued a $105.00 price target (down previously from $140.00) on shares of Root in a research note on Monday. Finally, TD Cowen boosted their price target on Root from $51.00 to $125.00 and gave the company a "hold" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.