Root, Inc. (NASDAQ:ROOT) Director Julie Szudarek Sells 2,790 Shares

Root, Inc. (NASDAQ:ROOT - Get Free Report) Director Julie Szudarek sold 2,790 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $133.80, for a total transaction of $373,302.00. Following the sale, the director now owns 13,332 shares in the company, valued at approximately $1,783,821.60. This trade represents a 17.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Root Stock Up 9.0%

Shares of NASDAQ ROOT traded up $12.56 on Friday, hitting $151.73. The company had a trading volume of 785,719 shares, compared to its average volume of 516,232. 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, Inc. has a 12-month low of $34.04 and a 12-month high of $181.14. The firm has a market capitalization of $2.33 billion, a P/E ratio of -123.36 and a beta of 2.31. The business has a 50 day moving average of $133.07 and a two-hundred day moving average of $114.44.

Root (NASDAQ:ROOT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.45 by $0.62. The firm had revenue of $349.40 million for 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 period in the previous year, the company posted ($0.42) EPS. As a group, equities research analysts forecast that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bayforest Capital Ltd purchased a new stake in Root during the 1st quarter worth $361,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Root by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company's stock valued at $686,000 after acquiring an additional 229 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Root by 122.2% during the first quarter. AQR Capital Management LLC now owns 10,229 shares of the company's stock worth $1,365,000 after acquiring an additional 5,626 shares during the last quarter. Twin Tree Management LP purchased a new stake in shares of Root during the first quarter worth about $37,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of Root in the first quarter worth about $20,423,000. 59.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a 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. Scotiabank reissued a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. UBS Group raised their price target on shares of Root from $67.00 to $130.00 and gave the company a "neutral" rating in a report on Friday, March 7th. Finally, Jefferies Financial Group lifted their price target 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. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus 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.

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