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

Root, Inc. (NASDAQ:ROOT) Director Julie Szudarek sold 2,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $96.33, for a total transaction of $192,660.00. Following the completion of the sale, the director now directly owns 15,003 shares in the company, valued at $1,445,238.99. This represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Root Stock Performance

ROOT stock opened at $109.40 on Friday. Root, Inc. has a 1 year low of $7.22 and a 1 year high of $118.15. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -88.94 and a beta of 2.34. 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 stock’s fifty day moving average is $53.56 and its two-hundred day moving average is $53.75.

Root (NASDAQ:ROOT) last posted its earnings results on Wednesday, October 30th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of ($0.61) by $1.96. The firm had revenue of $305.70 million during the quarter, compared to analysts’ expectations of $272.77 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. Root’s quarterly revenue was up 165.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($3.16) EPS. On average, research analysts predict that Root, Inc. will post -1.2 EPS for the current year.

Institutional Trading of Root

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD acquired a new position in shares of Root during the first quarter valued at $434,000. Tidal Investments LLC acquired a new position in Root during the 1st quarter valued at about $1,997,000. Bank of New York Mellon Corp bought a new stake in shares of Root during the 2nd quarter worth about $1,280,000. Rhumbline Advisers lifted its stake in shares of Root by 2,355.5% in the 2nd quarter. Rhumbline Advisers now owns 11,590 shares of the company’s stock worth $598,000 after acquiring an additional 11,118 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Root by 76.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock valued at $306,000 after acquiring an additional 2,576 shares in the last quarter. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of Root from $84.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Cantor Fitzgerald raised Root to a “strong-buy” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $90.00 price target (up from $82.00) on shares of Root in a report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on Root from $64.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $90.00 target price on shares of Root in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.13.

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.