Jump Financial LLC Has $887,000 Holdings in Root, Inc. (NASDAQ:ROOT)

Jump Financial LLC cut its holdings in shares of Root, Inc. (NASDAQ:ROOT - Free Report) by 65.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,220 shares of the company's stock after selling 22,729 shares during the quarter. Jump Financial LLC owned approximately 0.08% of Root worth $887,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ROOT. Russell Investments Group Ltd. lifted its stake in Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company's stock valued at $31,000 after acquiring an additional 365 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Root during the fourth quarter worth about $94,000. SBI Securities Co. Ltd. acquired a new position in Root during the fourth quarter worth approximately $154,000. FreeGulliver LLC bought a new stake in Root in the fourth quarter valued at approximately $203,000. Finally, Mariner LLC acquired a new stake in shares of Root in the fourth quarter valued at approximately $217,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROOT has been the topic of a number of research analyst reports. UBS Group increased their price target on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, March 7th. Wells Fargo & Company upped their price target on shares of Root from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Thursday, April 10th. Jefferies Financial Group upped their target price on Root from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Scotiabank restated a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on Root from $90.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $112.67.

Root Price Performance

Shares of NASDAQ ROOT traded down $1.08 during mid-day trading on Friday, reaching $149.07. The company had a trading volume of 268,958 shares, compared to its average volume of 521,200. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -121.20 and a beta of 2.41. The business's 50-day simple moving average is $131.17 and its 200 day simple moving average is $97.52. Root, Inc. has a one year low of $34.04 and a one year 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.

Root (NASDAQ:ROOT - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of ($0.63) by $1.93. The company had revenue of $326.70 million during the quarter, compared to analysts' expectations of $287.79 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. On average, research analysts predict that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Root

In other Root news, insider Mahtiyar Bonakdarpour sold 5,515 shares of Root stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $124.78, for a total value of $688,161.70. Following the transaction, the insider now owns 286,901 shares in the company, valued at $35,799,506.78. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Alexander E. Timm sold 1,144 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total transaction of $153,307.44. Following the completion of the transaction, the chief executive officer now directly owns 161,625 shares of the company's stock, valued at $21,659,366.25. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,659 shares of company stock worth $1,191,469 over the last three months. Corporate insiders own 11.71% of the company's stock.

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.