Root, Inc. (NASDAQ:ROOT) Stake Trimmed by Ribbit Management Company LLC

Ribbit Management Company LLC reduced its position in shares of Root, Inc. (NASDAQ:ROOT - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,221,783 shares of the company's stock after selling 446,220 shares during the period. Root accounts for approximately 10.1% of Ribbit Management Company LLC's holdings, making the stock its 5th biggest position. Ribbit Management Company LLC owned about 8.09% of Root worth $88,689,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Root by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company's stock valued at $357,000 after acquiring an additional 171 shares during the period. MetLife Investment Management LLC increased its stake in Root by 5.0% in the 4th quarter. MetLife Investment Management LLC now owns 5,382 shares of the company's stock valued at $391,000 after buying an additional 255 shares during the last quarter. Legal & General Group Plc lifted its stake in Root by 3.6% in the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company's stock valued at $577,000 after acquiring an additional 273 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Root by 651.8% during the fourth 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 period. Finally, Aquatic Capital Management LLC raised its stake in Root by 92.1% in the 4th quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company's stock worth $112,000 after purchasing an additional 737 shares in the last quarter. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on Root from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods upped their target price on Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group lifted their price target on shares of Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, March 7th. Wells Fargo & Company lifted their price target on shares of Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Finally, Scotiabank reissued a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Root has a consensus rating of "Hold" and a consensus price target of $122.17.

Root Price Performance

Root stock traded up $1.43 during midday trading on Tuesday, hitting $137.96. 104,969 shares of the company's stock were exchanged, compared to its average volume of 593,063. Root, Inc. has a 52-week low of $34.04 and a 52-week high of $181.14. The stock has a 50-day moving average price of $138.18 and a two-hundred day moving average price of $110.12. The company has a market cap of $2.12 billion, a P/E ratio of -112.16 and a beta of 2.40. 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 (NASDAQ:ROOT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.62. The business had revenue of $349.40 million during 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 revenue for the quarter was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. On average, equities research analysts forecast that Root, Inc. will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In other Root news, major shareholder Meyer Malka sold 225,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $135.81, for a total transaction of $30,557,250.00. Following the transaction, the insider now owns 503,800 shares in the company, valued at approximately $68,421,078. This represents a 30.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Doug Ulman sold 2,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 233,659 shares of company stock worth $31,748,719 in the last ninety days. 11.76% of the stock is owned by insiders.

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.