Parallax Volatility Advisers L.P. Increases Stock Holdings in Root, Inc. (NASDAQ:ROOT)

Parallax Volatility Advisers L.P. boosted its holdings in Root, Inc. (NASDAQ:ROOT - Free Report) by 47.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,833 shares of the company's stock after buying an additional 5,739 shares during the period. Parallax Volatility Advisers L.P. owned approximately 0.12% of Root worth $1,294,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its position in shares of Root by 0.3% during the 3rd quarter. State Street Corp now owns 176,891 shares of the company's stock valued at $6,683,000 after acquiring an additional 444 shares during the period. Barclays PLC raised its stake in Root by 361.6% in the 3rd quarter. Barclays PLC now owns 14,033 shares of the company's stock valued at $529,000 after acquiring an additional 10,993 shares during the period. Franklin Resources Inc. bought a new stake in Root during the third quarter valued at $249,000. Nordea Investment Management AB raised its stake in shares of Root by 7.3% during the fourth quarter. Nordea Investment Management AB now owns 20,697 shares of the company's stock worth $1,497,000 after acquiring an additional 1,416 shares in the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in shares of Root in the fourth quarter worth about $218,000. 59.82% of the stock is currently owned by institutional investors.

Root Trading Up 3.8 %

ROOT stock traded up $5.14 during midday trading on Friday, reaching $141.77. The stock had a trading volume of 242,966 shares, compared to its average volume of 600,139. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -115.26 and a beta of 2.41. Root, Inc. has a twelve month low of $34.04 and a twelve month high of $181.14. The business has a fifty day simple moving average of $134.58 and a two-hundred day simple moving average of $101.13. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65.

Root (NASDAQ:ROOT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $1.93. The company had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. As a group, research analysts expect that Root, Inc. will post -0.08 EPS for the current fiscal year.

Insider Transactions at Root

In other news, CEO Alexander E. Timm sold 1,144 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total value of $153,307.44. Following the transaction, the chief executive officer now directly owns 161,625 shares in the company, valued at $21,659,366.25. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Doug Ulman sold 2,000 shares of the business's stock in a transaction 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 directly owns 6,201 shares in the company, valued at $1,085,175. This trade represents a 24.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,659 shares of company stock valued at $31,748,719. 11.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.