Mahtiyar Bonakdarpour Sells 5,256 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT - Get Free Report) insider Mahtiyar Bonakdarpour sold 5,256 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $130.60, for a total transaction of $686,433.60. Following the completion of the sale, the insider now directly owns 281,645 shares in the company, valued at approximately $36,782,837. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mahtiyar Bonakdarpour also recently made the following trade(s):

• On Wednesday, April 2nd, Mahtiyar Bonakdarpour sold 5,515 shares of Root stock. The stock was sold at an average price of $124.78, for a total transaction of $688,161.70.

Root Stock Up 8.7%

Shares of Root stock traded up $12.15 during trading hours on Friday, reaching $151.32. 468,538 shares of the company were exchanged, compared to its average volume of 515,093. The firm has a market cap of $2.33 billion, a PE ratio of -123.52 and a beta of 2.31. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. Root, Inc. has a 1 year low of $34.04 and a 1 year high of $181.14. The stock's fifty 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 for the quarter, topping the consensus estimate of $0.45 by $0.62. The company had revenue of $349.40 million for 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%. Root's revenue was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.42) EPS. As a group, equities research analysts forecast that Root, Inc. will post -0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

ROOT has been the topic of a number of recent research reports. Jefferies Financial Group boosted their price target 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 objective on Root from $105.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Wall Street Zen raised Root from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, UBS Group lifted their target price on shares of Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Root has an average rating of "Moderate Buy" and an average target price of $136.40.

Institutional Trading of Root

A number of large investors have recently made changes to their positions in ROOT. Rhumbline Advisers lifted its stake in Root by 27.7% in the fourth quarter. Rhumbline Advisers now owns 14,628 shares of the company's stock worth $1,062,000 after acquiring an additional 3,169 shares during the last quarter. Mariner LLC acquired a new stake in shares of Root in the 4th quarter valued at $217,000. Bank of New York Mellon Corp lifted its position in shares of 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 last quarter. Swiss National Bank lifted its position in shares of 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 last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Root during the fourth quarter worth $417,000. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

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.