Two Sigma Investments LP Has $620,000 Stock Holdings in Root, Inc. (NASDAQ:ROOT)

Two Sigma Investments LP reduced its holdings in shares of Root, Inc. (NASDAQ:ROOT - Free Report) by 39.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,535 shares of the company's stock after selling 5,512 shares during the quarter. Two Sigma Investments LP owned approximately 0.06% of Root worth $620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROOT. Rhumbline Advisers lifted 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 last quarter. Y Intercept Hong Kong Ltd acquired a new position in Root in the 4th quarter valued at $255,000. Bank of New York Mellon Corp raised its holdings in Root by 36.0% in the 4th quarter. Bank of New York Mellon Corp now owns 24,438 shares of the company's stock valued at $1,774,000 after acquiring an additional 6,465 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Root in the 4th quarter valued at $309,000. Finally, SBI Securities Co. Ltd. acquired a new position in Root in the 4th quarter valued at $154,000. 59.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ROOT shares. UBS Group lifted their price objective on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a report on Friday, March 7th. Keefe, Bruyette & Woods lifted their price objective on Root from $150.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company lifted their price objective on Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Wall Street Zen raised Root from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Root has a consensus rating of "Moderate Buy" and an average price target of $136.40.

Root Price Performance

Shares of ROOT traded up $2.84 during midday trading on Wednesday, hitting $154.57. The company's stock had a trading volume of 346,686 shares, compared to its average volume of 518,890. Root, Inc. has a one year low of $34.04 and a one year high of $181.14. The company's fifty day simple moving average is $135.56 and its two-hundred day simple moving average is $115.72. 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 stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -125.67 and a beta of 2.31.

Root (NASDAQ:ROOT - Get Free Report) last issued 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 business had revenue of $349.40 million for the quarter, compared to analyst estimates of $305.24 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. Root's quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.42) EPS. As a group, equities analysts expect that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Root news, CEO Alexander E. Timm sold 1,144 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total value of $153,307.44. Following the sale, the chief executive officer now owns 161,625 shares in the company, valued at approximately $21,659,366.25. The trade was a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Meyer Malka sold 225,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $135.81, for a total value of $30,557,250.00. Following the completion of the sale, the insider now owns 503,800 shares in the company, valued at $68,421,078. This trade represents a 30.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,742 shares of company stock worth $34,553,788 in the last 90 days. Insiders own 11.76% of the company's stock.

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.