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 the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $134.01, for a total transaction of $153,307.44. Following the transaction, the chief executive officer now owns 161,625 shares of the company’s stock, valued at approximately $21,659,366.25. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Root Stock Down 6.7 %

Shares of Root stock opened at $112.37 on Friday. The firm has a market cap of $1.71 billion, a PE ratio of -91.36 and a beta of 2.41. The business’s 50 day simple moving average is $125.54 and its 200 day simple moving average is $88.25. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. Root, Inc. has a 52-week low of $34.04 and a 52-week high of $181.14.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The company had revenue of $326.70 million for the quarter, compared to the consensus estimate of $287.79 million. On average, analysts predict that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Root

A number of large investors have recently modified their holdings of ROOT. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Root in the fourth quarter valued at about $29,661,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Root by 163.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,923 shares of the company’s stock valued at $9,286,000 after purchasing an additional 79,317 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Root by 41.8% during the 4th quarter. Renaissance Technologies LLC now owns 263,515 shares of the company’s stock worth $19,129,000 after purchasing an additional 77,699 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Root by 16.2% during the 4th quarter. Vanguard Group Inc. now owns 526,928 shares of the company’s stock worth $38,250,000 after purchasing an additional 73,413 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Root in the 4th quarter valued at approximately $3,834,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ROOT. UBS Group upped their price objective on shares of Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, March 7th. Wells Fargo & Company restated a “buy” rating on shares of Root in a report on Sunday, March 2nd. Finally, Scotiabank reiterated a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.