Root, Inc. (NASDAQ:ROOT) Holdings Boosted 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 lifted its stake in Root, Inc. (NASDAQ:ROOT - Free Report) by 69.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,421 shares of the company's stock after buying an additional 3,459 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.06% of Root worth $611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROOT. Vanguard Group Inc. boosted its position in shares of Root by 16.2% in the 4th quarter. Vanguard Group Inc. now owns 526,928 shares of the company's stock valued at $38,250,000 after purchasing an additional 73,413 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in Root in the fourth quarter valued at $29,661,000. Renaissance Technologies LLC boosted its stake in shares of Root by 41.8% during the fourth quarter. Renaissance Technologies LLC now owns 263,515 shares of the company's stock worth $19,129,000 after buying an additional 77,699 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Root by 163.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,923 shares of the company's stock valued at $9,286,000 after acquiring an additional 79,317 shares during the period. Finally, Northern Trust Corp lifted its position in Root by 6.5% during the 4th quarter. Northern Trust Corp now owns 75,159 shares of the company's stock worth $5,456,000 after acquiring an additional 4,607 shares during the period. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Root from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Wells Fargo & Company lifted their price target on Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. UBS Group increased their price objective on Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a research report on Friday, March 7th. Scotiabank reaffirmed a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. Finally, Wall Street Zen raised shares of Root from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Root presently has an average rating of "Moderate Buy" and an average target price of $136.40.

Root Trading Up 0.6%

Shares of NASDAQ ROOT traded up $0.96 during midday trading on Thursday, reaching $155.53. 484,087 shares of the stock were exchanged, compared to its average volume of 519,673. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $2.39 billion, a P/E ratio of -126.45 and a beta of 2.31. The stock has a 50 day moving average price of $135.56 and a 200-day moving average price of $115.72. Root, Inc. has a 52-week low of $34.04 and a 52-week high of $181.14.

Root (NASDAQ:ROOT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.62. The business had revenue of $349.40 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 37.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.42) EPS. Equities research analysts expect that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Root

In other news, Director Doug Ulman sold 2,000 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the transaction, the director now directly owns 6,201 shares of the company's stock, valued at approximately $1,085,175. The trade was a 24.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alexander E. Timm sold 1,144 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total transaction of $153,307.44. Following the completion of the transaction, the chief executive officer now owns 161,625 shares in the company, valued at $21,659,366.25. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,742 shares of company stock worth $34,553,788. 11.76% of the stock is currently owned by corporate insiders.

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.