Alexander E. Timm Sells 8,290 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT - Get Free Report) CEO Alexander E. Timm sold 8,290 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $130.60, for a total value of $1,082,674.00. Following the transaction, the chief executive officer now directly owns 168,609 shares in the company, valued at $22,020,335.40. This trade represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Root Stock Up 8.7%

ROOT stock traded up $12.15 on Friday, hitting $151.32. 468,538 shares of the company's stock were exchanged, compared to its average volume of 515,093. The firm has a 50 day moving average price of $133.07 and a two-hundred day moving average price of $114.44. Root, Inc. has a 12-month low of $34.04 and a 12-month high of $181.14. The stock has a market cap of $2.33 billion, a P/E 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 (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. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The business had revenue of $349.40 million during the quarter, compared to the consensus estimate of $305.24 million. During the same quarter last year, the company earned ($0.42) earnings per share. The company's quarterly revenue was up 37.2% on a year-over-year basis. As a group, equities research analysts expect that Root, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Trading of Root

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in 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 purchasing an additional 3,169 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Root during the fourth quarter valued at $255,000. Bank of New York Mellon Corp increased its position in shares of Root by 36.0% in the 4th quarter. Bank of New York Mellon Corp now owns 24,438 shares of the company's stock valued at $1,774,000 after acquiring an additional 6,465 shares during the period. Los Angeles Capital Management LLC purchased a new position in Root in the 4th quarter worth $309,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Root during the 4th quarter worth about $154,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ROOT shares. Wall Street Zen upgraded Root from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company lifted their price target on Root from $105.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods upped their price target on shares of Root from $150.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Scotiabank reissued a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. Finally, UBS Group lifted their price objective on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a report 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $136.40.

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.