Doug Ulman Sells 2,000 Shares of Root, Inc. (NASDAQ:ROOT) Stock

Root, Inc. (NASDAQ:ROOT) Director Doug Ulman sold 2,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Root Price Performance

NASDAQ ROOT opened at $148.94 on Friday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -121.09 and a beta of 2.48. Root, Inc. has a 1-year low of $34.04 and a 1-year high of $181.14. 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 business’s fifty day moving average price is $120.39 and its 200-day moving average price is $84.58.

Root (NASDAQ:ROOT) last posted its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.81% and a negative net margin of 1.56%. On average, equities analysts predict that Root, Inc. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROOT. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research note on Sunday, March 2nd. UBS Group upped their price objective on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, March 7th. Finally, Scotiabank reissued a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.33.

Institutional Trading of Root

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its stake in shares of Root by 12.0% during the 4th quarter. California State Teachers Retirement System now owns 7,477 shares of the company’s stock worth $543,000 after acquiring an additional 801 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Root by 69.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,421 shares of the company’s stock worth $611,000 after buying an additional 3,459 shares in the last quarter. State of Wyoming raised its stake in shares of Root by 21.6% in the fourth quarter. State of Wyoming now owns 4,162 shares of the company’s stock worth $302,000 after buying an additional 740 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Root by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock valued at $357,000 after acquiring an additional 171 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of Root in the fourth quarter worth approximately $248,000. 59.82% of the stock is currently owned by institutional investors.

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.