Root, Inc. (NASDAQ:ROOT) Shares Sold by Rollins Financial Advisors LLC

Rollins Financial Advisors LLC lessened its holdings in Root, Inc. (NASDAQ:ROOT) by 82.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,171 shares of the company’s stock after selling 14,711 shares during the period. Rollins Financial Advisors LLC’s holdings in Root were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ROOT. Legal & General Group Plc increased its stake in Root by 3.6% during the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company’s stock worth $577,000 after purchasing an additional 273 shares during the period. Russell Investments Group Ltd. boosted its position in 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 buying an additional 365 shares during the period. State Street Corp grew its stake in shares of Root by 0.3% in the third quarter. State Street Corp now owns 176,891 shares of the company’s stock worth $6,683,000 after acquiring an additional 444 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Root by 9.2% during the fourth quarter. Alliancebernstein L.P. now owns 10,100 shares of the company’s stock worth $733,000 after acquiring an additional 850 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in shares of Root in the third quarter valued at $33,000. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Scotiabank reissued a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. Finally, UBS Group raised their price objective on Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. Five 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’s stock. According to data from MarketBeat, Root currently has a consensus rating of “Moderate Buy” and an average target price of $88.33.

Insider Activity

In related news, Director Doug Ulman sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the sale, the director now owns 6,201 shares in the company, valued at $1,085,175. This trade represents a 24.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mahtiyar Bonakdarpour sold 5,515 shares of Root stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,659 shares of company stock valued at $1,191,469. Company insiders own 11.71% of the company’s stock.

Root Trading Up 0.3 %

Shares of Root stock opened at $112.76 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market capitalization of $1.71 billion, a P/E ratio of -91.67 and a beta of 2.41. Root, Inc. has a 1 year low of $34.04 and a 1 year high of $181.14. The company’s fifty day moving average is $126.18 and its two-hundred day moving average is $89.44.

Root (NASDAQ:ROOT) last released its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Analysts forecast that Root, Inc. will post -0.08 earnings per share for the current year.

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.