Root (NASDAQ:ROOT) Shares Up 4.9% - Still a Buy?

Root, Inc. (NASDAQ:ROOT - Get Free Report)'s share price shot up 4.9% during mid-day trading on Thursday . The company traded as high as $162.75 and last traded at $162.18. 151,440 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 517,548 shares. The stock had previously closed at $154.57.

Analyst Ratings Changes

Several research firms have recently commented on ROOT. Keefe, Bruyette & Woods upped their price target on shares of Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Root from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group increased their price target on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a report on Friday, March 7th. Scotiabank reiterated a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. Finally, Jefferies Financial Group lifted their target price on Root from $115.00 to $150.00 and gave the stock a "buy" rating in a research report 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $136.40.

Root Stock Performance

The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $2.25 billion, a PE ratio of -119.26 and a beta of 2.31. The stock has a 50 day moving average of $137.19 and a two-hundred day moving average of $116.48.

Root (NASDAQ:ROOT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.07 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $349.40 million for the quarter, compared to the consensus estimate of $305.24 million. During the same period in the previous year, the business earned ($0.42) earnings per share. Root's quarterly revenue was up 37.2% compared to the same quarter last year. Research analysts expect that Root, Inc. will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling at Root

In other news, major shareholder Meyer Malka sold 225,000 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $135.81, for a total value of $30,557,250.00. Following the sale, the insider now owns 503,800 shares of the company's stock, valued at approximately $68,421,078. The trade was a 30.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alexander E. Timm sold 1,144 shares of the business'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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,742 shares of company stock worth $34,553,788 in the last 90 days. 11.76% of the stock is owned by corporate insiders.

Institutional Trading of Root

Large investors have recently made changes to their positions in the stock. Bayforest Capital Ltd bought a new stake in Root during the 1st quarter valued at approximately $361,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Root by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company's stock valued at $686,000 after purchasing an additional 229 shares during the period. AQR Capital Management LLC boosted its stake in Root by 122.2% during the 1st quarter. AQR Capital Management LLC now owns 10,229 shares of the company's stock valued at $1,365,000 after purchasing an additional 5,626 shares during the period. Twin Tree Management LP bought a new stake in Root during the 1st quarter valued at approximately $37,000. Finally, Driehaus Capital Management LLC bought a new stake in Root during the 1st quarter valued at approximately $20,423,000. Institutional investors own 59.82% of the company's stock.

About Root

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.