Root, Inc. (NASDAQ:ROOT) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Root, Inc. (NASDAQ:ROOT - Free Report) by 69.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,421 shares of the company's stock after purchasing an additional 3,459 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.06% of Root worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in Root by 27.7% during the 4th quarter. Rhumbline Advisers now owns 14,628 shares of the company's stock worth $1,062,000 after purchasing an additional 3,169 shares during the period. Mariner LLC purchased a new position in Root during the 4th quarter worth $217,000. Bank of New York Mellon Corp increased its holdings in Root by 36.0% during the 4th quarter. Bank of New York Mellon Corp now owns 24,438 shares of the company's stock worth $1,774,000 after purchasing an additional 6,465 shares during the period. Swiss National Bank increased its holdings in Root by 15.6% during the 4th quarter. Swiss National Bank now owns 15,600 shares of the company's stock worth $1,132,000 after purchasing an additional 2,100 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new position in Root during the 4th quarter worth $417,000. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Root

In other Root news, CEO Alexander E. Timm sold 8,290 shares of Root stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $130.60, for a total transaction of $1,082,674.00. Following the completion of the sale, the chief executive officer now owns 168,609 shares of the company's stock, valued at approximately $22,020,335.40. The trade was a 4.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Meyer Malka sold 225,000 shares of Root stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $135.81, for a total value of $30,557,250.00. Following the sale, the insider now directly owns 503,800 shares of the company's stock, valued at approximately $68,421,078. This represents a 30.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,742 shares of company stock valued at $34,553,788 in the last quarter. 11.76% of the stock is currently owned by corporate insiders.

Root Stock Down 5.7%

Shares of Root stock traded down $8.84 during trading on Friday, reaching $146.69. The company's stock had a trading volume of 487,712 shares, compared to its average volume of 520,734. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -119.26 and a beta of 2.31. Root, Inc. has a 1-year low of $34.04 and a 1-year high of $181.14. The company has a 50-day simple moving average of $137.19 and a two-hundred day simple moving average of $116.48.

Root (NASDAQ:ROOT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.62. The firm had revenue of $349.40 million during the quarter, compared to analysts' expectations of $305.24 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The business's quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.42) EPS. As a group, equities analysts forecast that Root, Inc. will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on ROOT. Keefe, Bruyette & Woods increased their target price on Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group increased their target price on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, March 7th. Wells Fargo & Company increased their target price on Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Scotiabank reaffirmed a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. Finally, Jefferies Financial Group increased their target price on Root from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $136.40.

Root Company 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.