Root (NASDAQ:ROOT) Trading 4.8% Higher

Root, Inc. (NASDAQ:ROOT) traded up 4.8% on Monday . The company traded as high as $71.36 and last traded at $71.09. 63,111 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 551,306 shares. The stock had previously closed at $67.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities boosted their target price on shares of Root from $15.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $80.00 price target (up previously from $70.00) on shares of Root in a research report on Tuesday, May 7th. Wells Fargo & Company lifted their price target on shares of Root from $64.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, TD Cowen lifted their price target on shares of Root from $11.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, June 5th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.89.

Root Stock Down 1.2 %

The stock’s fifty day moving average is $56.78 and its 200-day moving average is $45.94. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.51 and a current ratio of 1.51.

Root (NASDAQ:ROOT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.51) by $2.09. The firm had revenue of $254.90 million during the quarter, compared to analysts’ expectations of $203.99 million. Root had a negative net margin of 17.61% and a negative return on equity of 62.36%. The business’s revenue for the quarter was up 263.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.88) earnings per share. As a group, equities research analysts predict that Root, Inc. will post -4.03 earnings per share for the current year.

Insider Activity at Root

In other news, Director Beth A. Birnbaum sold 1,735 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.67, for a total value of $75,767.45. Following the completion of the transaction, the director now owns 16,013 shares in the company, valued at $699,287.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Meyer Malka sold 13,300 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $60.58, for a total value of $805,714.00. Following the completion of the transaction, the insider now owns 43,107 shares in the company, valued at $2,611,422.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Beth A. Birnbaum sold 1,735 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.67, for a total transaction of $75,767.45. Following the completion of the transaction, the director now owns 16,013 shares of the company’s stock, valued at approximately $699,287.71. The disclosure for this sale can be found here. Corporate insiders own 11.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. lifted its position in shares of Root by 218,250.0% in the third quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock worth $42,000 after purchasing an additional 4,365 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Root in the fourth quarter worth $234,000. Sequoia Financial Advisors LLC bought a new stake in shares of Root in the first quarter worth $293,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Root by 37.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,382 shares of the company’s stock worth $360,000 after purchasing an additional 9,390 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Root in the first quarter worth $431,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

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.