Root, Inc. (NASDAQ:ROOT) CEO Sells $153,307.44 in Stock

Root, Inc. (NASDAQ:ROOT) CEO Alexander E. Timm sold 1,144 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total transaction 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. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Root Stock Down 6.7 %

ROOT opened at $112.37 on Friday. The company has a market cap of $1.71 billion, a PE ratio of -91.36 and a beta of 2.41. Root, Inc. has a twelve month low of $34.04 and a twelve month high of $181.14. The company has a 50-day moving average price of $125.54 and a 200 day moving average price of $88.58. 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 (NASDAQ:ROOT) last announced its earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. The business had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. Sell-side analysts expect that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROOT. Russell Investments Group Ltd. raised its position in shares of Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock valued at $31,000 after buying an additional 365 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Root in the 3rd quarter valued at about $33,000. KLP Kapitalforvaltning AS purchased a new position in Root in the 4th quarter worth approximately $94,000. Aquatic Capital Management LLC boosted its holdings in shares of Root by 92.1% during the 4th quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock worth $112,000 after purchasing an additional 737 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Root in the fourth quarter valued at approximately $154,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Wall Street Analyst Weigh In

ROOT has been the topic of several analyst reports. Scotiabank restated a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. UBS Group raised their target price on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company restated 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 given a strong buy rating to the company. According to data from MarketBeat.com, Root presently has an average rating of “Moderate Buy” and a consensus price target of $88.33.

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.