Beth A. Birnbaum Sells 2,852 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT) Director Beth A. Birnbaum sold 2,852 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $138.33, for a total value of $394,517.16. Following the transaction, the director now directly owns 14,280 shares in the company, valued at approximately $1,975,352.40. The trade was a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Root Price Performance

ROOT stock opened at $151.73 on Friday. 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 firm has a market capitalization of $2.33 billion, a P/E ratio of -123.36 and a beta of 2.31. The business’s 50-day moving average is $133.54 and its two-hundred day moving average is $114.86. Root, Inc. has a 1 year low of $34.04 and a 1 year high of $181.14.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.07 EPS for the quarter, beating 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 business had revenue of $349.40 million for the quarter, compared to the consensus estimate of $305.24 million. During the same quarter in the prior year, the business posted ($0.42) EPS. The business’s revenue for the quarter was up 37.2% on a year-over-year basis. Analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ROOT has been the topic of several research reports. Wells Fargo & Company increased their target price on Root from $105.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods increased their target price on Root from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. UBS Group increased their price target on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, March 7th. Scotiabank reaffirmed a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. Finally, Wall Street Zen raised Root from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.40.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in Root by 651.8% during the 4th quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock worth $31,000 after buying an additional 365 shares during the last quarter. Twin Tree Management LP purchased a new position in Root during the 1st quarter worth approximately $37,000. KBC Group NV purchased a new position in Root during the 1st quarter worth approximately $48,000. KLP Kapitalforvaltning AS purchased a new position in Root during the 4th quarter worth approximately $94,000. Finally, Aquatic Capital Management LLC grew its stake in 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 buying an additional 737 shares during the last quarter. Hedge funds and other 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.