25,800 Shares in Root, Inc. $ROOT Acquired by T3 Companies LLC

T3 Companies LLC bought a new stake in Root, Inc. (NASDAQ:ROOT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,800 shares of the company’s stock, valued at approximately $1,864,000. Root makes up about 2.3% of T3 Companies LLC’s investment portfolio, making the stock its 9th largest position.

Other hedge funds also recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Root by 3.0% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 6,225 shares of the company’s stock worth $797,000 after purchasing an additional 181 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Root by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company’s stock valued at $686,000 after buying an additional 229 shares during the period. Rhumbline Advisers increased its position in shares of Root by 2.9% in the 3rd quarter. Rhumbline Advisers now owns 15,811 shares of the company’s stock valued at $1,415,000 after buying an additional 443 shares in the last quarter. Gabelli Funds LLC increased its position in shares of Root by 10.9% in the 3rd quarter. Gabelli Funds LLC now owns 5,100 shares of the company’s stock valued at $457,000 after buying an additional 500 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Root by 22.8% during the 3rd quarter. Arizona State Retirement System now owns 3,189 shares of the company’s stock worth $285,000 after buying an additional 593 shares during the period. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on ROOT shares. Weiss Ratings lowered Root from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Wells Fargo & Company raised their price target on Root from $52.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded Root from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research upgraded Root from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, UBS Group set a $50.00 price target on shares of Root and gave the company a “neutral” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $93.20.

Root Stock Up 0.2%

ROOT stock opened at $53.96 on Thursday. The company has a market cap of $854.19 million, a price-to-earnings ratio of 16.16 and a beta of 2.87. Root, Inc. has a twelve month low of $40.91 and a twelve month high of $162.99. The business has a 50 day moving average price of $52.89 and a two-hundred day moving average price of $60.71. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61.

Root (NASDAQ:ROOT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $1.25. The company had revenue of $393.50 million for the quarter, compared to analysts’ expectations of $398.16 million. Root had a return on equity of 19.97% and a net margin of 3.58%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. Analysts anticipate that Root, Inc. will post 2.15 EPS for the current fiscal year.

About Root

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.