Alexander E. Timm Sells 1,144 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT) CEO Alexander E. Timm sold 1,144 shares of Root stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total transaction of $153,307.44. Following the transaction, the chief executive officer now directly owns 161,625 shares in the company, valued at $21,659,366.25. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Root Stock Down 6.7 %

NASDAQ:ROOT opened at $112.37 on Friday. Root, Inc. has a 52 week low of $34.04 and a 52 week high of $181.14. The stock’s fifty day moving average is $125.54 and its two-hundred day moving average is $88.58. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -91.36 and a beta of 2.41. 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 posted its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $1.93. The firm had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. Research analysts anticipate that Root, Inc. will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in Root by 966.2% during 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 position in shares of Root by 361.6% during the third quarter. Barclays PLC now owns 14,033 shares of the company’s stock worth $529,000 after acquiring an additional 10,993 shares during the period. Nordea Investment Management AB increased its position 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 worth $1,497,000 after acquiring an additional 1,416 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Root in the third quarter valued at $428,000. Finally, Franklin Resources Inc. purchased a new position in Root in the third quarter valued at $249,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ROOT shares. Scotiabank restated a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. UBS Group raised their target price 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 reaffirmed a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.