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 firm’s stock in a transaction 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 sale, the chief executive officer now owns 161,625 shares in the company, valued at $21,659,366.25. The trade was a 0.70 % 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 hyperlink.

Root Price Performance

Shares of ROOT traded down $4.74 during mid-day trading on Thursday, hitting $120.43. 817,771 shares of the stock were exchanged, compared to its average volume of 521,663. The firm has a 50-day moving average of $124.26 and a two-hundred day moving average of $87.52. Root, Inc. has a 52-week low of $34.04 and a 52-week high of $181.14. 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 cap of $1.83 billion, a PE ratio of -97.91 and a beta of 2.48.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating the consensus estimate 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 business had revenue of $326.70 million during the quarter, compared to analyst estimates of $287.79 million. On average, equities analysts predict that Root, Inc. will post -0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

ROOT has been the topic of several research analyst reports. Scotiabank restated a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research report on Sunday, March 2nd. Finally, UBS Group upped their target price on shares of Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROOT. T. Rowe Price Investment Management Inc. bought a new stake in shares of Root in the 4th quarter valued at approximately $29,661,000. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 worth $9,286,000 after buying an additional 79,317 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Root by 41.8% during the fourth quarter. Renaissance Technologies LLC now owns 263,515 shares of the company’s stock worth $19,129,000 after buying an additional 77,699 shares during the period. Vanguard Group Inc. increased its position in Root by 16.2% during the fourth quarter. Vanguard Group Inc. now owns 526,928 shares of the company’s stock valued at $38,250,000 after acquiring an additional 73,413 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Root in the fourth quarter valued at $3,834,000. Hedge funds and other institutional investors 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.