Insider Selling: Root, Inc. (NASDAQ:ROOT) Director Sells 1,895 Shares of Stock

Root, Inc. (NASDAQ:ROOT - Get Free Report) Director Jerri Devard sold 1,895 shares of the firm'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 sale, the director now owns 18,532 shares of the company's stock, valued at $2,622,278. This represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Root Price Performance

Shares of ROOT stock traded up $12.56 during trading hours on Friday, hitting $151.73. 785,719 shares of the company's stock were exchanged, compared to its average volume of 516,232. Root, Inc. has a 52 week low of $34.04 and a 52 week high of $181.14. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -123.36 and a beta of 2.31. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The stock's 50-day moving average is $133.07 and its 200-day moving average is $114.44.

Root (NASDAQ:ROOT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm's revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. As a group, research analysts forecast that Root, Inc. will post -0.08 EPS for the current year.

Hedge Funds Weigh In On Root

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

Wall Street Analyst Weigh In

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

About Root

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.

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