Root, Inc. (NASDAQ:ROOT) Director Doug Ulman Sells 2,000 Shares

Root, Inc. (NASDAQ:ROOT) Director Doug Ulman sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the sale, the director now owns 6,201 shares of the company’s stock, valued at $1,085,175. The trade was a 24.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Root Trading Down 10.3 %

NASDAQ:ROOT opened at $151.11 on Thursday. The company has a 50 day simple moving average of $119.17 and a two-hundred day simple moving average of $84.13. The company has a market cap of $2.30 billion, a PE ratio of -122.85 and a beta of 2.48. The company has a current ratio of 1.39, a quick 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.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $287.79 million. Research analysts forecast that Root, Inc. will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its holdings in Root by 651.8% during the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock valued at $31,000 after purchasing an additional 365 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Root during the 3rd quarter valued at $33,000. KLP Kapitalforvaltning AS bought a new position in Root in the 4th quarter worth $94,000. Aquatic Capital Management LLC increased 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 buying an additional 737 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Root during the fourth quarter valued at about $154,000. 59.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research note 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 research report on Friday, March 7th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.33.

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.