Root, Inc. (NASDAQ:ROOT - Get Free Report) CEO Alexander E. Timm sold 1,144 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total value of $153,307.44. Following the transaction, the chief executive officer now directly owns 161,625 shares of the company's stock, valued at approximately $21,659,366.25. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Root Stock Down 4.1 %
Shares of NASDAQ ROOT traded down $4.66 during mid-day trading on Tuesday, reaching $108.10. The company had a trading volume of 718,344 shares, compared to its average volume of 522,282. Root, Inc. has a 52-week low of $34.04 and a 52-week high of $181.14. The stock has a market cap of $1.64 billion, a P/E ratio of -87.89 and a beta of 2.41. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The firm has a 50 day simple moving average of $127.03 and a two-hundred day simple moving average of $90.05.
Root (NASDAQ:ROOT - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of ($0.63) by $1.93. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The business had revenue of $326.70 million for the quarter, compared to analysts' expectations of $287.79 million. Sell-side analysts predict that Root, Inc. will post -0.08 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Root by 16.2% during the fourth quarter. Vanguard Group Inc. now owns 526,928 shares of the company's stock worth $38,250,000 after acquiring an additional 73,413 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Root during the 4th quarter worth $29,661,000. Renaissance Technologies LLC grew its position in Root by 41.8% during the 4th quarter. Renaissance Technologies LLC now owns 263,515 shares of the company's stock worth $19,129,000 after purchasing an additional 77,699 shares during the last quarter. State Street Corp increased its stake in Root by 0.3% in the third quarter. State Street Corp now owns 176,891 shares of the company's stock valued at $6,683,000 after purchasing an additional 444 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Root by 163.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,923 shares of the company's stock valued at $9,286,000 after buying an additional 79,317 shares during the last quarter. Institutional investors and hedge funds own 59.82% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on ROOT. Wells Fargo & Company reiterated a "buy" rating on shares of Root in a report on Sunday, March 2nd. UBS Group boosted their target price on shares of Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a research note on Friday, March 7th. Finally, Scotiabank restated a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Root has an average rating of "Moderate Buy" and an average target price of $88.33.
Get Our Latest Stock Analysis on ROOT
Root Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider Root, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Root wasn't on the list.
While Root currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
