Root, Inc. (NASDAQ:ROOT) Director Julie Szudarek Sells 2,000 Shares

Root, Inc. (NASDAQ:ROOT) Director Julie Szudarek sold 2,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $96.33, for a total value of $192,660.00. Following the transaction, the director now directly owns 15,003 shares in the company, valued at approximately $1,445,238.99. This represents a 11.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Root Stock Up 3.7 %

NASDAQ ROOT traded up $3.70 on Wednesday, hitting $104.77. 866,618 shares of the company were exchanged, compared to its average volume of 554,697. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The stock has a fifty day moving average of $50.75 and a 200-day moving average of $53.00. Root, Inc. has a 12 month low of $7.22 and a 12 month high of $118.15. The company has a market cap of $1.58 billion, a PE ratio of -88.11 and a beta of 2.34.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $1.96. The business had revenue of $305.70 million during the quarter, compared to the consensus estimate of $272.77 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The firm’s quarterly revenue was up 165.1% compared to the same quarter last year. During the same quarter last year, the company posted ($3.16) earnings per share. As a group, analysts forecast that Root, Inc. will post -1.2 earnings per share for the current year.

Institutional Investors Weigh In On Root

Several hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in shares of Root during the third quarter worth approximately $33,000. MetLife Investment Management LLC raised its stake in shares of Root by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock worth $194,000 after acquiring an additional 2,889 shares in the last quarter. Versor Investments LP purchased a new position in shares of Root during the third quarter worth approximately $216,000. Algert Global LLC purchased a new position in shares of Root in the second quarter worth $288,000. Finally, MML Investors Services LLC purchased a new position in shares of Root in the third quarter worth $288,000. 59.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ROOT has been the subject of a number of research reports. Jefferies Financial Group decreased their price target on Root from $84.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company raised their target price on shares of Root from $64.00 to $78.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Cantor Fitzgerald raised shares of Root to a “strong-buy” rating in a report on Thursday, October 3rd. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of Root in a report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $90.00 price target (up previously from $82.00) on shares of Root in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Root currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.13.

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.