Insider Selling: Root, Inc. (NASDAQ:ROOT) Director Sells 2,000 Shares of Stock

Root, Inc. (NASDAQ:ROOT) Director Doug Ulman sold 2,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the sale, the director now owns 6,201 shares in the company, valued at approximately $1,085,175. The trade was a 24.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Root Stock Performance

Shares of ROOT stock opened at $136.93 on Friday. The firm has a market cap of $2.08 billion, a P/E ratio of -111.33 and a beta of 2.48. The stock’s 50-day moving average is $121.42 and its two-hundred day moving average is $85.27. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $181.14.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in Root by 966.2% during the third quarter. FMR LLC now owns 18,040 shares of the company’s stock worth $682,000 after purchasing an additional 16,348 shares during the period. Barclays PLC boosted its holdings in shares of Root by 361.6% during the 3rd quarter. Barclays PLC now owns 14,033 shares of the company’s stock worth $529,000 after buying an additional 10,993 shares during the period. Nordea Investment Management AB grew its stake in Root by 7.3% in the 4th quarter. Nordea Investment Management AB now owns 20,697 shares of the company’s stock valued at $1,497,000 after buying an additional 1,416 shares during the last quarter. Franklin Resources Inc. bought a new position in Root in the 3rd quarter worth $249,000. Finally, Point72 Asset Management L.P. acquired a new position in Root during the 3rd quarter worth $428,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Scotiabank reissued a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. Finally, Wells Fargo & Company reaffirmed a “buy” 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.