Insider Selling: Root, Inc. (NASDAQ:ROOT) Insider Sells $688,161.70 in Stock

Root, Inc. (NASDAQ:ROOT) insider Mahtiyar Bonakdarpour sold 5,515 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $124.78, for a total transaction of $688,161.70. Following the completion of the sale, the insider now owns 286,901 shares in the company, valued at approximately $35,799,506.78. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Root Price Performance

Shares of ROOT opened at $112.37 on Friday. Root, Inc. has a 12 month low of $34.04 and a 12 month high of $181.14. 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 fifty day moving average price of $125.54 and a 200 day moving average price of $88.58. The company has a market cap of $1.71 billion, a P/E ratio of -91.36 and a beta of 2.41.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ROOT. Scotiabank restated a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. UBS Group raised their price objective on Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Five 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.33.

Institutional Investors Weigh In On Root

Hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in Root by 966.2% in the 3rd quarter. FMR LLC now owns 18,040 shares of the company’s stock worth $682,000 after buying an additional 16,348 shares in the last quarter. Barclays PLC increased its holdings in shares of Root by 361.6% during the third quarter. Barclays PLC now owns 14,033 shares of the company’s stock valued at $529,000 after purchasing an additional 10,993 shares during the period. Nordea Investment Management AB raised its stake in shares of Root by 7.3% during the fourth quarter. Nordea Investment Management AB now owns 20,697 shares of the company’s stock valued at $1,497,000 after purchasing an additional 1,416 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Root in the third quarter worth about $428,000. Finally, Franklin Resources Inc. bought a new position in Root in the 3rd quarter valued at about $249,000. 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.