Invesco Ltd. Invests $328,000 in Root, Inc. (NASDAQ:ROOT)

Invesco Ltd. purchased a new position in Root, Inc. (NASDAQ:ROOT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,525 shares of the company's stock, valued at approximately $328,000.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Root by 651.8% in the 4th quarter. Russell Investments Group Ltd. now owns 421 shares of the company's stock worth $31,000 after purchasing an additional 365 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Root in the fourth quarter worth $94,000. SBI Securities Co. Ltd. bought a new stake in shares of Root during the 4th quarter worth $154,000. FreeGulliver LLC bought a new position in Root in the 4th quarter worth $203,000. Finally, Wesbanco Bank Inc. bought a new position in Root in the 4th quarter worth $218,000. Institutional investors own 59.82% of the company's stock.

Insiders Place Their Bets

In related news, Director Doug Ulman sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director now owns 6,201 shares in the company, valued at $1,085,175. This trade represents a 24.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Meyer Malka sold 225,000 shares of the company's stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 233,659 shares of company stock worth $31,748,719 over the last quarter. Company insiders own 11.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ROOT shares. Keefe, Bruyette & Woods raised their price target on Root from $90.00 to $150.00 and gave the company an "outperform" rating in a research report on Tuesday, April 22nd. UBS Group lifted their price target on Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a research report on Friday, March 7th. Scotiabank reiterated a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. Wells Fargo & Company raised their price objective on shares of Root from $97.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 10th. Finally, Jefferies Financial Group upped their target price on shares of Root from $115.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $112.67.

Root Stock Performance

ROOT stock traded up $2.32 during midday trading on Wednesday, hitting $140.08. The stock had a trading volume of 961,414 shares, compared to its average volume of 509,879. Root, Inc. has a 52 week low of $34.04 and a 52 week high of $181.14. 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 stock has a 50-day simple moving average of $136.67 and a 200 day simple moving average of $103.62. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -113.89 and a beta of 2.40.

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 $0.33 by $0.74. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. As a group, equities research analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current year.

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.