Mahtiyar Bonakdarpour Sells 5,515 Shares of Root, Inc. (NASDAQ:ROOT) Stock

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

Root Stock Down 6.7 %

ROOT stock opened at $112.37 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 $1.71 billion, a P/E ratio of -91.36 and a beta of 2.41. Root, Inc. has a 52-week low of $34.04 and a 52-week high of $181.14. The company’s 50 day simple moving average is $125.54 and its 200-day simple moving average is $88.58.

Root (NASDAQ:ROOT) last announced its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $1.93. The company had revenue of $326.70 million for the quarter, compared to the consensus estimate of $287.79 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. As a group, equities research analysts anticipate that Root, Inc. will post -0.08 EPS for the current year.

Institutional Investors Weigh In On Root

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in shares of Root by 651.8% in the 4th quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock valued at $31,000 after purchasing an additional 365 shares during the period. Point72 DIFC Ltd acquired a new position in Root in the 3rd quarter valued at approximately $33,000. KLP Kapitalforvaltning AS purchased a new stake in Root in the 4th quarter worth approximately $94,000. Aquatic Capital Management LLC lifted its position in Root by 92.1% in 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 in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Root during the 4th quarter valued at $154,000. 59.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ROOT. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research report on Sunday, March 2nd. UBS Group increased their target price on shares of Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, March 7th. Finally, Scotiabank restated a “sector perform” rating on shares of Root in a research report 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 assigned a strong buy rating to the company. According to MarketBeat.com, Root presently has a consensus rating of “Moderate Buy” and an average target price of $88.33.

Root Company Profile

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.